OREANDA-NEWS. November 12, 2007. In the period from January through September 2007 the net profit of ITERA Oil and Gas Company (as per Russian Accounting Standards) grew by 107% as compared to the same period of last year and amounted 2 300 644 000 Rubles.

The increase is generally explained by higher sales revenue which grew from 16.975 billion Rubles (VAT exclusive) in the first 9 months of 2006 to 21.184 billion Rubles (VAT exclusive) in the first 9 months of 2007, and made 24,8% increment. The cost price of the product sold grew only by 16.1%.

This made it possible for the company to achieve a profit of 3.282 billion rubles from January to September 2007 which is 1.151 billion rubles higher than that generated in the same period of last year.