Lukoil’s Q1 earnings jump tenfold to $2 bln

(Reuters) – Lukoil (LKOH.MM) posted a first-quarter profit of 133.4 billion roubles ($2 billion) on Wednesday, up more than tenfold year on year under Russian Accounting Standards (RAS).

Lukoil also said its January-March revenue rose to 723.2 billion roubles from 330.9 billion a year earlier.

The oil producer has said it will not publish first-quarter financial and operational data under International Financial Reporting Standards.

RAS standards usually do not take into account data from subsidiaries.

($1 = 65.6020 roubles)

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