Transneft posts IFRS net profit of RUB 40.6 bln in QI'14, down 12.7%, y-o-y

In QI'14, net profit of Transneft OJSC calculated under IFRS totaled RUB 40.6 bln (-12.7%, year-on-year), the company says.
 
In January-March 2014, the revenue climbed by 2.3% to RUB 188.1 bln, EBITDA totaled RUB 91 bln (-0.7%, year-on-year). 

Transneft is Russian oil transporting state monopoly (78% of voting shares are controlled by the state) and the largest pipeline company in the world holding about 50,000 km of trunk pipelines. In 2013, net profit of Transneft calculated under Russian Accounting Standards climbed by 5.7% to RUB 11.26 bln.