Russian gas pipeline systems operator Oao Gazprom (OGZPF.PK,OGZPY.PK,GAZP) Tuesday reported a decline in half yearly profit, as operating expenses grew. Total sales for the period however, rose by 12 percent.
Profit before tax was down to RUB 634.6 million from RUB 741.8 million last year.
Profit for the period attributable to owners of OAO Gazprom totaled RUB 450.6 million, down 23 percent from RUB 582.7 million last year.
Operating expenses increased by 31 percent to RUB 2.24 billion from RUB 1.71 billion in the year-ago period.
Half yearly sales improved to RUB 2.87 billion from RUB 2.56 billion a year ago.
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