April 2, 2014 / 6:07 AM / 4 years ago

Russia's Bashneft 2013 net profit down 12 pct y/y

MOSCOW, April 2 (Reuters) - Middle-sized Russian oil company Bashneft said on Wednesday its net profit dropped 12 percent in 2013, year-on-year, to 46.2 billion roubles ($1.3 billion) due to impairment charges.

The company said its bottom line was hit by the sale of its 38.5 percent stake in production unit Belkamneft to a group of private investors for 6.5 billion roubles last September.

Bashneft, owned by oil-to-telecoms holding company Sistema , also said its last-year sales increased by 6 percent to 563.3 billion roubles on the back of rising oil and gas production as well as an increase in exporting volumes. (Reporting by Olesya Astakhova; writing by Vladimir Soldatkin, editing by Elizabeth Piper)

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