Gazprom Quarterly Net Falls 9% on Exchange Loss; Exports Decline
This article is for subscribers only.
OAO Gazprom, Russia’s monopoly gas exporter, said profit fell 9 percent in the third quarter from a year earlier because of an exchange loss, while rising prices compensated for a decline in European sales.
Net income fell to 159 billion rubles ($5.4 billion), the Moscow-based company said today on its website, meeting the average estimate of eight analysts surveyed by Bloomberg. Gazprom said it had a foreign exchange loss of 6.8 billion rubles after a gain of 42.5 billion rubles a year earlier.