Naftogaz sees almost 110-fold rise in net profit in Jan-Sept
National joint-stock company Naftogaz Ukrainy saw a 109-fold rise in net profit (by UAH 25.287 billion) in January-September 2016, to UAH 25.521 billion, according to an audited report posted on the company's website.
"Naftogaz saw UAH 25.5 billion of net profit in January-September 2016, which does not include spending on reserves to cover bad debts in the amount of UAH 1.7 billion," the press service said.
Net profit was formed thanks to profit from gas transit (UAH 19.8 billion, 78% of total profit), wholesale trade with gas (UAH 4.7 billion, 18%) and other revenue (around UAH 1 billion, 4%).
Net sales revenue grew by 28.9% or UAH 21.445 billion to UAH 95.574 billion, and the company saw a 2.5-fold rise in gross profit (by UAH 20.016 billion), to UAH 33.695 billion.
As reported, Naftogaz Ukrainy Board Chairman Andriy Kobolev predicts that the company would see UAH 21 billion of net profit in 2016.
