Lukoil Posts Drop In Q1 Profit

OAO Lukoil Holdings

reported a drop in its first-quarter net profit. Lukoil's quarterly net profit fell to $2.58 billion, from $3.79 billion, in the year-ago period. Its earnings before interest, taxation, depreciation and amortization declined 10.7% to $4.78 billion, while revenue fell 4.2% to $33.8 billion. Lukoil shares closed at $64.50 on Friday.