Transneft’s profit for January – September 2023 increased 4.2 times – Kommersant
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Net profit of Transneft (MOEX: TRNFP) for the first nine months of 2023 according to RAS amounted to 190.5 billion rubles. This is 4.2 times more than in the same period last year, according to the company’s new report (.pdf).
The company’s profit before tax increased 4.4 times, to 236 billion rubles, revenue exceeded 884 billion rubles. (+7.2%). Sales profit increased to RUB 74.6 billion. (+3.3%). Gross profit for January – September 2023 decreased to 106.2 billion rubles. (-7%).
Transneft provides services for pipeline transportation of oil and petroleum products. The day before, the head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev reportedthat the government supported splitting the company’s shares to increase the number of investors.
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