Lukoil’s profit in the first quarter decreased by 21.8% – Kommersant
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In the first quarter of 2023, LUKOIL’s net profit under Russian Accounting Standards (RAS) amounted to RUB 104.287 billion. This is 21.8% lower compared to the same period last year (133.381 billion).
The company’s revenue fell by 37%, to 455.83 billion rubles, the cost price – by almost 42%, to 309.636 billion rubles. Gross profit decreased by 23%, to 146.194 billion rubles, profit from sales – by 28%, to 110.778 billion rubles, profit before tax – by 20%, to 128.617 billion rubles, reports “Interfax” with reference to the reporting.
At the end of 2022, LUKOIL’s net profit under RAS grew by 24%, up to 790 billion rubles. Revenue for the last reporting period amounted to 2.874 trillion rubles, which is 20.3% more, gross profit and cost also increased. In March 2023, financial investments in the form of shares of foreign subsidiaries acquired by LUKOIL were accepted for accounting in the amount of $1.46 billion.
About the company’s projects – in the material “Kommersant” “LUKOIL is getting closer to Africa”.
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