Tatneft's net profit for 9 months under IFRS increased by 83.6%

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AK&M 29 November 2021 14:50

Net profit of Tatneft Group shareholders for 9 months of 2021 under IFRS increased in rubles by 83.6% to 144.29 billion rubles ($1.95 billion) from 78.6 billion rubles ($1.11 billion) a year earlier. This is stated in the company's message.

Consolidated sales revenue and other income from non-banking activities, net of export duties and excise taxes, increased by 71% to 892.72 billion rubles ($12.06 billion) from 521.9 billion rubles ($7.37 billion). EBITDA increased by 65.6% and amounted to RUB 215.89 billion ($2.9 billion) compared to RUB 130.37 billion ($1.8 billion).

PJSC Tatneft is one of the largest Russian vertically integrated oil companies, which dynamically develops oil and gas production, oil refining, petrochemistry, tire complex, gas station network, electric power industry, development and production of equipment for the oil and gas industry and a block of service structures.

Tatneft's net profit under IFRS attributable to shareholders in the first half of 2021 increased by 2 times to 92.23 billion rubles. Revenue increased by 70% to 568.88 billion rubles. EBITDA increased by 2 times to RUB 141.42 billion, adjusted EBITDA amounted to RUB 142.72 billion.