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    Tatneft Q1 net profit doubles to 24.5 bln rbls

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    Tatneft, Russia's sixth-biggest crude producer, saw its first quarter 2011 net profit double year on year to 24.476 billion rubles ($836 million) to US GAAP, the company said in a statement on Tuesday.

    Tatneft, Russia's sixth-biggest crude producer, saw its first quarter 2011 net profit double year on year to 24.476 billion rubles ($836 million) to US GAAP, the company said in a statement on Tuesday.

    The company's revenue in the first quarter increased by 25 percent to 131.726 billion rubles ($4.500 billion).

    The company's assets increased to 583.264 billion rubles as of March 31, 2011 from 567.179 billion rubles as of December 31, 2010, the statement said.

    The company's liabilities fell to 207.858 billion rubles from 216.633 billion rubles during the reporting period.

    In January-March 2011, shareholders' equity rose to 362.867 billion rubles from 338.607 billion rubles.

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