Russian state-controlled oil pipeline monopoly Transneft TRNF_p.MM reported on Wednesday that net income under Russian accounting standards rose by more than four times in January to September to 190.55 billion roubles ($1.96 billion) as costs fell.

Revenues for the period rose to 884.03 billion roubles from 824.63 billion roubles in the first nine months of 2022.

Russian accounting standards typically do not take into account figures from subsidiaries, while they serve as a base for dividends.
Source: Reuters (Reporting by Vladimir Soldatkin, Editing by Louise Heavens)