Gazprom H1 Net Profit Drops 34%

OAO Gazprom GZPFY reported a 34% drop in its first-half net profit. Net profit attributable to shareholders fell to 509.7 billion rubles ($16.3 billion), from RUB785.2 billion, in the year-ago period. Its revenue declined 5% to RUB2.23 trillion. While total gas sales dropped to 255.5 billion cubic meters from 287.6 billion. Gazprom shares closed at $25.03 yesterday.