Gazprom suffered $155 million net loss in first 9 months of 2017


According to the company’s quarterly report, Gazprom’s net loss for the first 9 months of 2017 amounted to 9.21 billion rubles, or $155 million. Last year there was a profit of 75.42 billion rubles, or $1.3 billion.

The revenue over the reporting period increased by 9.3%, to 3.03 trillion rubles (approx. $51 billion – RRT). Gross profit increased by 4.3%, to 1.2 trillion rubles (approx. $20.3 billion – RRT), and profit from sales increased by 20.9%, to 232.9 billion rubles (approx. $3.94 – RRT).

At the same time, pre-tax profit decreased three-fold, to 65.1 billion rubles (approx. $1.1 billion – RRT). The report states that since the beginning of the year the total assets of the company decreased by 0.3%, to 13.81 trillion rubles (approx. $234 billion – RRT), while total liabilities increased by 4.6%, to 3.6 trillion rubles (appox. $60 billion – RRT).

In August, the Federal Customs Service (FCS) reported that Gazprom‘s revenues from gas exports for the period from January to June increased by 19.5% compared to the same period last year. The company’s total profit in the first half of the year was $17.89 billion.