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Novatek Q3 net profit more than doubles, above fcast
November 9, 2012 / 2:01 PM / 5 years ago

Novatek Q3 net profit more than doubles, above fcast

MOSCOW, Nov 9 (Reuters) - Novatek, Russia’s top non-state gas producer, said on Friday its third-quarter net profit attributable to shareholders more than doubled to 20 billion roubles ($633.89 million), beating forecasts, due to a rise in gas prices and output.

Novatek said in a statement that its revenues increased to 52.7 billion roubles in the July-September of 2012 from 40 billion roubles for the same period last year.

A poll of analysts showed an average forecast of 18.7 billion roubles for the net profit and 51.9 billion roubles for revenues. ($1 = 31.5512 Russian roubles) (Reporting by Vladimir Soldatkin; Editing by Maria Kiselyova)

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