Tatneft Q1 Net Profit Rises 14.7% to $927 Mln

Tatneft, Russia’s sixth largest crude oil producer, saw US GAAP first quarter net profit increase 14.65 percent year-on-year to 28.061 billion rubles ($927 million), the company said in a statement on Monday.

The company’s revenue grew 14.57 percent in the first three months of 2012 to 151.030 billion rubles ($4.991 billion) year-on-year.

Tatneft’s total consolidated assets rose 2.2 percent to 641.404 billion rubles ($21.869 billion) compared with the fourth quarter of 2011, while consolidated liabilities grew to $7.124 billion as of March 31, 2012 from $6.969 billion as of December 31, 2012.


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