Varioganneft increased its net profit under RAS 70% in the first six months
Raduzhny, KhMAO. In January-June of 2013, the net profit under RAS of OAO Varioganneft (RTS: VARN) (subsidiary of RussNeft (RTS: RUSN) in Khanty-Mansiysk autonomous district) was 837.7 million rubles which was 1.7 times greater than during the first six months of 2012, the company’s report says.
Revenue of the company increased 5% to 7,557,729 thousand rubles. The report does not specify dynamics of the parameters.
The company’s accounts receivable were 3,173,557 thousand rubles as of June 30, 2013, compared to 4,660,719 thousand rubles as of the beginning of this year, and the company’s accounts payable reduced to 3,370,767 thousand rubles from 5,119,884 thousand rubles.
NK RussNeft owns 51,062% of Varioganneft interest.