Ukrnafta sees net profit decrease by 76.5% in Q1 2019

14.05.2019 10:34

Ukrinform

PJSC Ukrnafta, Ukraine’s largest oil company, posted a net profit of UAH 296 million for January-March 2019, which is 76.5% less compared with the relevant period in 2018, according to the company’s report on financial and operational results for Q1 2019,which has been posted on its website.

In Q1 2019, the company received a net profit of UAH 296 million, which is UAH 965 million, or 76.5% less, than in Q1 2018.

In January-March 2019, Ukrnafta paid UAH 72 million in income tax and the net income of the company amounted to UAH 6.7 billion.

Also, Ukrnafta paid UAH 3.8 billion in taxes over the reporting period, which is 9.7% more than in Q1 2018.

The company’s press service also added: “In Q1 2019, three out of five state-run oil and condensate auctions failed due to the absence of buyers and, consequently, influenced negatively the financial results: the significant part of crude oil was not sold. Also, in Q1 2019 comparing to the same period of previous year, dynamics of weighted average selling price for oil and condensate and gas was negative”.

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