Novatek, Russia's second-largest gas producer, on Tuesday reported a 1.6 percent rise in net profit in the second quarter of 2009, year-on-year, above analysts' expectations.
The company said in a statement its net profit rose to 7.16 billion roubles in the second quarter, compared with 7.05 billion roubles in the same period of last year. The average forecast of 10 analysts polled by Reuters was 7.02 billion roubles.
Novatek said total revenues rose to 23.15 billion roubles, an 8.4 percent increase over the second quarter of 2008. Analysts polled by Reuters expected the company to report revenues of 22.14 billion roubles.
Novatek also said its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell to 9.33 billion roubles from 10.32 billion roubles in April-June 2008, while analysts predicted a fall to 9.22 billion roubles.
(Reporting by Vladimir Soldatkin; Editing by Robin Paxton)