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Gazprom's net debt at $22.6 bln as of March 31 — company

August 10, 2015, 11:52 UTC+3

Gazprom's net profit increased 1.7 times in the first quarter of 2015

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© ITAR-TASS/Stanislav Krasilnikov

MOSCOW, August 10 / TASS/ The net debt of Russia's gas major Gazprom has decreased by 12% to 1.45 trillion rubles ($22.6 bln) as of March 31, year-on-year, the company said in its first quarter report on Monday.

The net debt, defined as short-term borrowings and current portion of long-term loans, short-term promissory notes payable, long-term loans, long-term promissory notes payable, net of cash and cash equivalents as well as cash and cash equivalents restricted to withdrawal under the terms of certain borrowings and other contractual obligations decreased by 202.367 billion rubles ($3.2 bln).

The reasons for the decreasing value·of this index are associated with an increase in cash and cash equivalents.

Gazprom's net profit under IFRS grows 1.7 times in Q1

According to the report, Gazprom's net profit increased 1.7 times to 382.112 bln rubles ($5.9 bln) in the first quarter of 2015 as calculated under the International Financial Reporting Standards (IFRS).

In the reporting period, revenues rose by 5.8 % to 1.648 trillion rubles ($25.5 bln). Operating costs rose by 7.5% in January-March to 1.171 trillion rubles ($18.1 bln).

Pretax profit spared 1.56 times to 496.094 bln rubles ($ 7.7 bln).

The profit was 389.618 bln rubles ($6.04 bln) in the period against 231.664 bln rubles ($3.6 bln) in the first quarter of 2014.

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