In Q1, Transneft increased its net profit by almost 20%

In the first quarter of 2016, the Transneft’s net profit under IAS increased by 19.2% and amounted to 75.568 billion rubles. This was reported by Transneft on June 3, 2016.

In the first quarter of 2016, the profit attributable to shareholders of Transneft increased by 19.5% to 75.616 billion rubles. The Transneft's revenue grew by 1.3% to 204.005 billion rubles. The operating profit remained virtually unchanged in comparison with the first quarter of 2015 and amounted to 72.123 billion rubles. The operating expenses increased by 1.6% to 131.882 billion rubles. EBITDA grew by 5.9% and amounted to 107.326 billion rubles, however, the the EBITDA margin declined from 61.9% to 61.2%.