August 29, 2019 / 11:23 AM / 2 months ago

Russia's Transneft says second quarter net profit up 23.7% year on year

FILE PHOTO: A general view of oil tanks in the Transneft – Kozmino Port near the far eastern town of Nakhodka, Russia November 15, 2017. REUTERS/Yuri Maltsev

MOSCOW (Reuters) - Russian pipeline monopoly Transneft (TRNF_p.MM), which was rocked by an oil contamination crisis earlier this year, said on Thursday that its second-quarter net profit had risen 23.7% year on year to 55.8 billion roubles ($846 million).

The company said its possible liabilities over the contamination of Russian oil via the Druzhba pipeline could have a significant impact on its financial results in the future. It said it had not calculated those liabilities yet.

The company posted second-quarter revenue of 260.2 billion roubles, up from 238.1 billion roubles in the same period last year.

Reporting by Maxim Rodionov; Writing by Tom Balmforth; Editing by Maria Kiselyova

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