Ukrnafta in nine months posts 49% fall in net profit
PJSC Ukrnafta, the largest oil extracting company in the country, in January-September 2013 saw its net profit fall by 49% compared to the same period last year, to UAH 764.324 million under international financial reporting standards (IFRS).
According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, the company's net sales income in the reporting period increased by 40.1%, to UAH 15.175 billion, while its gross profit was up by 2.3 times, to UAH 6.828 billion.
In July-September 2013, Ukrnafta saw a net profit of UAH 249.055 million. Its net income totaled UAH 5.298 billion, and its gross profit was UAH 2.349 billion.
In the first half of 2012, Ukrnafta formalized reports under Ukrainian accounting standards, consequently, the direct comparison of the data for the third quarter of 2013 and 2012 is not possible.
Naftogaz Ukrainy owns a 50% plus one share stake in Ukrnafta, while a group of companies affiliated with the shareholders of PrivatBank (Dnipropetrovsk) owns about 42% of the shares.