OJSC Varyeganneft Reports Earnings Results for the First Quarter of 2016
OJSC Varyeganneft reported earnings results for the first quarter of 2016. For the period, the company reported revenue of RUB 3,585,354,000 compared to RUB 3,632,857,000 a year ago. Operating profit was RUB 304,378,000 compared to RUB 143,451,000 a year ago. Pretax profit was RUB 311,727,000 compared to RUB 120,924,000 a year ago. Net profit was RUB 255,176,000 compared to RUB 86,680,000 a year ago. The increase of net profit was caused by a fall in other spending, an increase in operating profit and a rise in gross profit.