Gazprom posts QI’14 net profit of RUB 223 bln (-41.4%, y-o-y)

In QI'14, net profit of Gazprom OJSC calculated in accordance with International Accounting Standard dropped by 41.4%, year-on-year, to RUB 223 bln, the company states.

The company’s sales (net of excise tax, VAT and customs duties) increased by RUB 97,296 million, or 7%, to RUB 1,558,737 million in the three months ended March 31, 2014 compared to the three months ended March 31, 2013.

Gazprom is one of the largest energy companies in the world. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, as well as generation and marketing of heat and electric power. Gazprom views its mission in reliable, efficient and balanced supply of natural gas, other energy resources and their derivatives to consumers.