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Bashneft Q1 net profit soars 53% to $370 mln

© Sputnik / Boris Babanov / Go to the photo bankRussian oil company Bashneft posted a $370 million first quarter 2011 net profit, up 53 percent year-on-year
Russian oil company Bashneft posted a $370 million first quarter 2011 net profit, up 53 percent year-on-year - Sputnik International
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Russian oil company Bashneft posted a $370 million first quarter 2011 net profit, up 53 percent year-on-year, the company said on Wednesday.

Russian oil company Bashneft posted a $370 million first quarter 2011 net profit, up 53 percent year-on-year, the company said on Wednesday.

Bashneft, which ranks among the country's 10 top oil companies, saw revenues soar 42 percent to $4.135 billion to IFRS, due to higher crude oil and oil products sales, the firm said.

Operating expenses grew 40.3 percent to $3.467 billion, while EBITDA increased 39.4 percent to $856 million.

Net income attributable to the parent company's shareholders rose 52.9 percent to $370 million.

The volume of oil refining edged up 3.8 percent to 4.99 million tons, while oil product output increased 2.1 percent to 4.542 million tons.

 

MOSCOW, June 8 (RIA Novosti)

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