September 11, 2014 / 6:15 AM / 5 years ago

Gazprom says Q1 net profit down on Ukraine, misses forecast

MOSCOW, Sept 11 (Reuters) - Russian gas producer Gazprom said on Thursday its first-quarter net profit fell 41 percent to 223 billion roubles ($6 billion), missing forecasts, on the back of cheaper gas to Ukraine and a weaker rouble.

Analysts, polled by Reuters, expected first-quarter net income to fall to 263.6 billion roubles.

Gazprom also said that its operational expenses rose due to a provision of 71.3 billion roubles related to “doubtful” trade accounts receivable of Naftogaz, Ukraine’s state energy firm.

Total January-March sales rose to 1.56 trillion roubles from 1.46 trillion roubles in the year-earlier period. (1 US dollar = 37.3300 Russian rouble) (Reporting by Vladimir Soldatkin, editing by Elizabeth Piper)

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