NIS Nine-Month Profit Jumps 19% on Lower Costs, Higher Output
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Naftna Industrija Srbije AD, the Serbian oil and gas company controlled by OAO Gazprom Neft, said its nine-month profit jumped 19 percent as costs fell and output increased.
Net income climbed to 32.2 billion dinars ($368 million) as sales advanced 22 percent to 162 billion dinars, the Novi Sad, Serbia-based company known as NIS said in an e-mailed statement today. Earnings before interest, taxes, depreciation and amortization jumped 49 percent to 18.1 billion dinars as oil and gas production rose 13 percent to 1.25 million tons of oil equivalent.