Tatneft, one of Russia’s top 10 crude producers, said on Tuesday its U.S. GAAP net profit increased 55%, year-on-year, in January-September 2009 to 47.15 billion rubles ($1.6 billion).

Tatneft, which accounts for 80% of oil output in Russia’s Volga
republic of Tatarstan, said its consolidated revenues in the reporting
period decreased an estimated 27.6% to 273.68 billion rubles ($9
billion).

The company’s consolidated assets grew from 392.98 billion rubles
($13.38 billion) as of December 31, 2008 to 473.27 billion rubles
($15.73 billion) as of September 30, 2009, the statement said.

Consolidated liabilities increased from 128.12 billion rubles ($4.36
billion) as of December 31, 2008 to 168.62 billion rubles ($5.6
billion) as of September 30, 2009, the statement said.

Consolidated shareholders’ equity increased from 260.28 billion rubles
($8.86 billion) as of December 31, 2008 to 296.95 billion rubles ($9.87
billion) as of September 30, 2009, the statement said.

Source: RIA Novosti

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