Gas producer Itera doubles RAS net profit to $93 mln in Jan-Sep

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MOSCOW, October 30 (RIA Novosti) - Russian natural gas producer Itera said on Tuesday it doubled its net profit calculated to Russian Accounting Standards (RAS) year-on-year to 2.3 billion rubles ($93 mln) in January-September 2007.

The increase was due largely to a 24.8% rise in sales revenue, from 17 bln rubles (about $687 mln) in the first nine months of 2006 to 21.18 bln rubles ($858 mln) in January-September 2007, the company said. Production costs rose by only 16.1% in the reporting period.

Itera's sales profit reached 3.3 bln rubles ($133 mln) in the reporting period, up 1.2 bln rubles ($47 mln) year-on-year.

The independent natural gas producer has authorized capital of 60 mln rubles ($2.4 mln). The company is 99.99% owned by Itera Holdings Limited.

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