In the Ist quarter “Belkamneft” increased net profit 1.9 times.
Izhevsk. OAO Belkamneft” (integrated in NK “RussNeft”) (RTS: RUSN) received net profit in amount of 156.702 million in the first quarter of 2009, says the company’s report.
According to the data of the monthly report of the JSC, in January-March 2008 net profit of the oil-producing company amounted to 83.508 million rubles. Thus, in January-March of this year the figure grew 1.9 times.
It says in the report that in comparison to the IV quarter of 2008 net profit in the I quarter of 2009 has grown 1.8 times. The company says that it is reduction of costs that accounts for the growth of profit.
NK “RussNeft” is engaged in hydrocarbons production in Udmurtia through its subsidiaries – OAO “Belkamneft”, OAO “Uralskaya Neft”, OAO “Udmurtskaya Natsionalnaya Neftianaya Kompania” (“UNNK”), OAO “Udmurtskaya Neftianaya Kompania” (“UNK”).