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Russia's Novatek IFRS net profit rises 4.3% in 9M06

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MOSCOW, November 27 (RIA Novosti) - Novatek [RTS: NVTK] said Monday its net profit calculated to International Financial Reporting Standards (IFRS) grew 4.3%, year-on-year, in the first nine months of 2006, to 11.23 billion rubles (about $420.6 million).

The independent gas producer said its sales increased 32% in the reporting period to 37.1 billion rubles (about $1.39 billion) and pre-tax profit was up 3.25% to 14.92 billion rubles (about $558 million).

Russia's second largest gas producer said its natural gas output rose 9.8%, year-on-year, in the first nine months of 2006, to 22.614 billion cubic meters.

In 2005, Novatek produced some 25.2 billion cubic meters of natural gas and 2.59 million metric tons of gas condensate and oil.

The company's charter capital, which stands at 303.63 billion rubles ($10.99 billion), is divided into 3,036,306 shares with a par value of 100 rubles ($3.62) each.

Novatek's net profit calculated to Russian Accounting Standards (RAS) totaled 15.18 billion rubles (about $531 million) in 2005.

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