OREANDA-NEWS. May 23, 2008. Russia’s second largest natural gas producer’s Novatek IFRS net profit soared by 72,6% y/y to RUB 7,503bn (USD 314,74mn) in Jan-Mar 2008, company reported.

Revenues went up by 36,8% y/y to RUB 20,88bn in the reporting period. Novateks’s natural gas output went down by 8% y/y to 8,39bn m 3 in Jan-Mar.

To remind, company’s IFRS net profit increased by 33,7% y/y to RUB 18,73bn (USD 782mn) in 2007, while its natural gas output went down by 0,7% y/y to 28,5bn m 3 last year, which made it the second largest domestic producer of natural gas after Gazprom.