Profit at Russian oil giant Tatneft drops by half
Tatneft’s net profit under Russian Accounting Standards (RAS) dropped by 45.5% year-over-year in the first quarter of 2025, falling to 37.29 billion rubles, according to the company’s financial disclosures. This represents a 1.8-fold decrease compared to the same period last year. Quarterly revenue declined by 5.4% to 361.44 billion rubles, while the cost of sales rose 8.1% to 276.59 billion rubles. As a result, gross profit contracted by 32.8%, totaling 84.86 billion rubles.
Profit at Russian oil giant Tatneft drops by half Read Post »