IFRS net profit of JSOC Bashneft for H1 2013 grew by 4.6% to RUB 25.154 billion, Bashneft informed.
Sales revenue increased by 6.2% to RUB 260.483 billion, due to an increase in oil production and refining. Adjusted EBITDA decreased by 1.6% to RUB 44.141 billion.
The increase in operating cash flow enabled the company to reduce the group's total debt by 15.5% to RUB 105.832 billion.
Oil production at the Company's fields totaled 7,768 thousand tones (+1.5% year-on-year). Bashneft's refineries in Ufa processed 10,501 thousand tonnes of oil (+4.2% year-on-year).
Bashneft (tax number: 0274051582) is the leading enterprise of Bashkortostan's fuel and energy industry. The company is engaged in the oil recovery in Republic Bashkortostan, regions of West Siberia and in Orenburg region. As of December 31, 2012, Bashneft's proven oil reserves as per PRMS amounted to 2.007 billion barrels of oil.
IFRS net profit of Bashneft for 2012 increased by 4.5% to RUB 52.088 billion. Revenue rose by 9.5% to RUB 532.502 billion, EBITDA by 5.2% to RUB 98.69 billion.
According to the information and retrieval system DataCapital, RAS net profit of Bashneft for Q1 2013 grew by 48% to RUB 14.068 billion from RUB 9.532 billion for the same period in 2012. Revenue dropped by 1% to RUB 111.558 billion from RUB 112.732 billion. GP grew to RUB 53.434 billion from RUB 42.469 billion.