MOSCOW May 13 Russia's largest independent gas
producer, Novatek said on Monday its first-quarter net
profit rose 7 percent, year-on-year, beating market
The company made first-quarter net profit of 22.7 billion
roubles ($722.53 million), above the average forecast of 21.7
billion roubles in a Reuters poll.
Revenues grew 49 percent to 80.6 billion roubles, the
company said in a statement. Analysts had expected rising gas
and condensate sales to drive revenues 45 percent higher to 79
Novatek also said its earnings before interest, taxation,
depreciation and amortisation (EBITDA) increased 36 percent to
32.9 billion roubles against the 31.6 billion rouble forecast.
($1 = 31.4175 Russian roubles)
(Reporting by Denis Pinchuk; Writing by Maria Kiselyova;
Editing by Thomas Grove)