MOSCOW, October 31 (RIA Novosti) - Russia's largest state-controlled crude producer Rosneft [RTS: ROSN] said on Wednesday its net profit calculated to Russian Accounting Standards (RAS) rose 19.6% year-on-year to $3.7 billion in January-September 2007.
The company said the increase was caused by favorable exchange rate differences on loans, and the calculation of profit tax in the second quarter of 2007 taking into account the repayment of bankrupt oil company Yukos's debts.
Rosneft was Yukos's second largest creditor, and has bought up the company's key assets through liquidation auctions.
The state-controlled company said earlier this month that its US GAAP net profit increased 20.9% year-on-year in January-June, to $2.35 billion.
