MOSCOW Aug 31 Russian pipe maker TMK, a major supplier to Russia's oil and gas industry, reported a second quarter net profit of $76 million, falling short of a consensus forecast of $93 million.
TMK said the Q2 net profit included a $26 million foreign exchange loss.
Revenues were $1.78 billion, ahead of a consensus forecast of analysts polled by Reuters, which showed expectations of $1.69 billion, while earnings before interest, taxes, depreciation and amortisation (EBITDA) were $290 million, in line with the consensus forecast.
Pipe sales were up 10 percent on the back of increased sales of large-diameter pipes and OCTG pipes for construction of new wells. (Writing by Melissa Akin; Editing by Vladimir Soldatkin)