Because of a surge in production taxes, wages and other costs...
Gazprom, Russia's gas monopoly, announced Friday its second-quarter net profit fell 50 percent despite its higher revenues, because of a surge in production taxes, wages and other costs.
Net income to international accounting standards in the quarter fell to 23.9 billion rubles ($837 million) from 47.8 billion rubles a year earlier, according to Gazprom?s report on its web site.
Revenue rose 14 percent in April-June to 215.6 billion rubles from 189.6 billion rubles in the same period last year. The revenue figure is 8.6 percent higher than the analysts' median estimate of $7 billion.
Gazprom?s net profit for the first six months of the year dropped 13.3 percent.
