Gazprom Reports 50% Profit Increase Mainly Due to Gas Sales to Europe

Russia's energy giant Gazprom said Monday its profit attributable to the company's shareholders and calculated under International Financial Reporting Standards (IFRS) increased by 50 percent year-on-year to 675.9 billion rubles ($10.5 bln).

MOSCOW (Sputnik) — According to the company's statement, total sales (net of excise tax, VAT and customs duties) increased by 39.5 bln rubles, or 1 percent, year-on-year to over 2.9 trillion rubles in the six months ended June 30, 2015.

"The increase in sales is mainly driven by the increase in gas sales to Europe and other countries," Gazprom said.