Novatek 3Q Pretax Profit, Revenue Increases

By Maryam Cockar Features Dow Jones Newswires

Novatek PAO (NVTK.LN) on Wednesday said that pretax profit and revenue increased in the third quarter of 2017 due to higher liquid and natural gas prices.

Continue Reading Below

For the quarter ended Sept. 30, the Russian natural gas producer made a profit of 48 billion Russian roubles ($833.4 million) compared with RUB44.2 billion in the same quarter a year earlier.

However, for the nine months, profit declined to RUB143.4 billion compared with RUB198.3 billion in the year-earlier period.

Third-quarter revenue increased to RUB130.70 billion from RUB126.48 billion in the same quarter a year earlier. Revenue for the nine months grew to RUB414.16 billion from RUB393.22 billion.

Shares in Novatek were down 5.45 roubles, or 0.5%, to 706.49 roubles at 1140 GMT.

Write to Maryam Cockar at maryam.cockar@dowjones.com.

Continue Reading Below

(END) Dow Jones Newswires

October 25, 2017 08:10 ET (12:10 GMT)