29.08.2017, 22:55
Lukoil increased net profit to 138.7 billion roubles by selling diamond assets
Source: Minex Forum
OREANDA-NEWS. Russia’s No.2 oil producer Lukoil reported on Tuesday a forecast-beating second-quarter net income of 138.7 billion roubles ($2.4 billion), thanks to a sale of its diamond mining business and a rise in rouble rates, said nasdaq.com.
Analysts, polled by Reuters, had expected April-June earnings at 121.5 billion roubles after the company reported its second-quarter 2016 net profit of 62.6 billion roubles.
Lukoil had agreed to sell its stake in the Arkhangelskgeoldobycha diamond mine to Otkritie Holding group for $1.45 billion in cash.
Sales in the second quarter increased to 1.36 trillion roubles from 1.34 trillion roubles in the year-earlier period, while earnings before interest, taxes, depreciation and amortization (EBITDA) declined to 179.1 billion roubles from 189.6 billion roubles.
Analysts, polled by Reuters, had expected April-June earnings at 121.5 billion roubles after the company reported its second-quarter 2016 net profit of 62.6 billion roubles.
Lukoil had agreed to sell its stake in the Arkhangelskgeoldobycha diamond mine to Otkritie Holding group for $1.45 billion in cash.
Sales in the second quarter increased to 1.36 trillion roubles from 1.34 trillion roubles in the year-earlier period, while earnings before interest, taxes, depreciation and amortization (EBITDA) declined to 179.1 billion roubles from 189.6 billion roubles.
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