Transneft's net profit under IFRS went down 9.7 percent to RUB 45.938bn (approx. USD 1.95bn) during the first nine months of 2007 compared to the same period a year earlier, Russia's oil transportation company said in a report today according to RBC. Meanwhile, net profit plunged 33.6 percent to RUB 9.961bn (approx. USD 423m) in the third quarter of 2007 against Q3 2006.
Transneft's revenue rose 8 percent to RUB 164.549bn (approx. USD 6.98bn) in January-September 2007 compared to corresponding months of the previous year. Operating expenses grew 18.7 percent to RUB 98.325bn (approx. USD 4.17bn), while operating profit fell 7.13 percent to RUB 67.052bn (approx. USD 2.85bn), and pretax profit slid 5.62 percent to RUB 67.405bn (approx. USD 2.86bn).