Russia's Tatneft Q1 net profit up 44 pct y/y

MOSCOW, June 16 Mon Jun 16, 2014 12:46am EDT

MOSCOW, June 16 (Reuters) - Russian mid-sized oil producer Tatneft made 24.4 billion roubles ($710 million) in first-quarter net profit, up 44 percent year-on-year, the company said on Monday.

Tatneft, Russia's No.5 producer by oil output, also said it increased revenues by around 10 percent in the period to 117 billion roubles.

($1 = 34.3700 Russian Roubles) (Reporting by Polina Devitt; Editing by Maria Kiselyova)