MOSCOW, May 16 (RIA Novosti) - By Russian accounting standards (RSBU), net profits of Lukoil, Russia's major oil company, rose by 76% in the first quarter of this year, as against the respective 2004 period, to 25,005 million rubles (with one dollar being roughly equivalent to 28 rubles), the company said.
Over the January-March period, receipts from the company's sales rose by 62.1%, to 122,491 million rubles, sales profits - by 84.5%, to 34,288 million rubles, and pre-tax profit - by 80%, to 33,162 million rubles.
Production costs rose from 45,870 million rubles to 73,596 million rubles.
Lukoil is Russia's largest oil producer. Its authorized capital amounts to 21,264,081 rubles. The US company ConocoPhillips owns an 11.3% stake in Lukoil.
