Gazprom Neft's revenue under RAS increased nearly 1.6 times to RUB 496.966bn (approx. USD 18.2bn) in January-September, the Russian energy monopoly's oil arm said in a statement today according to RBC. Meanwhile, gross profit grew 43.4 percent to RUB 142.098bn (approx. USD 5.2bn), with sales revenue rising thanks to an increase in the price and sales of oil and oil products. Similarly, the company's equity grew by RUB 81.988bn (approx. USD 3bn) due to undistributed profit accrued over the year. Return on sales, however, fell to 23.4 percent, as costs grew more rapidly than sales revenue.
Gazprom Neft's net profit jumped 1.5 times to RUB 83.407bn (approx. USD 3.05bn) in the first nine months of 2008 compared with the same period of the previous year. In the third quarter alone, net profit increased 11 percent to RUB 21.5bn (approx. USD 786m) against Q3 2007.