Russia's state-controlled gas export monopoly Gazprom posted a 56 percent year-on-year growth in first half net profit to 771.669 billion rubles ($25 billion) to IFRS, according to RIA Novosti..
Gazprom's revenues rose 36.8 percent year-on-year in the first six months of 2011 to 2.347 trillion rubles, the company said in a statement.
The company's operating profit in January-June 2011 grew 46.9 percent to 848.495 billion rubles while pre-tax profit jumped 52 percent to 973.982 billion rubles.
Gazprom's net debt dropped 7 percent to 811.609 billion rubles as of June 30, 2011 due to a fall in long-term borrowing mainly as a result of the ruble's appreciation against the U.S. dollar, the company said.
The company's first half operating expenses grew 31 percent year-on-year to 1.498 trillion rubles.
Net sales of gas rose 39 percent year-on-year to 1.472 trillion rubles. This increase was primarily due to higher volumes of gas sold in Russia, the former Soviet republics, Europe and other countries, which was enhanced by the increase of average realized prices in ruble terms.
