Russia's Surgut 2012 net profit falls 31 percent
MOSCOW, March 28
MOSCOW, March 28 (Reuters) - Surgutneftegaz, Russia's fourth-largest oil company, on Thursday reported a 31 percent year-on-year fall in net profit in 2012 to 160.94 billion roubles ($5.18 billion).
The results are under Russian Accounting Standards. Surgut is expected to start reporting under international accounting standards from this year at the latest.
The company did not give reasons for the lower profits in 2012, when oil prices were stronger than in 2011. Its revenues rose to 815.6 billion roubles from 754.3 billion in 2011. ($1 = 31.0844 Russian roubles) (Reporting by Maria Kiselyova; Editing by Maya Dyakina and Anthony Barker)