July 27 (SeeNews) - Serbian oil and gas company NIS [BSE:NIIS], a subsidiary of Russia's Gazprom, said on Thursday its net profit soared to 12.4 billion dinars ($120.6 million/103.1 million euro) in the first half of 2017, from 3.1 billion dinars in the same period last year.
EBITDA expanded by 71% year-on-year to 22.5 billion dinars in January-June, the company said in a bourse filing.
NIS produced 692,000 conditional tonnes of oil and gas in the first six months of the year, while the volumes processed at its refining facilities totalled 1.6 million tonnes.
The sales volume of petroleum products totalled 1.6 million tonnes in the first half, with retail sales in Serbia up 2% on the year.
The company invested 10 billion dinars in the review period, up 9% compared to the first half of 2016.
NIS, 56.15%-owned by Gazprom, is one of the largest vertically integrated oil and gas companies in Southeast Europe. Its main activities include the exploration, production and processing of oil and gas, as well as the production and retail trade with a wide range of petroleum products. Serbia's government owns a 29.87% stake in NIS.
(1 euro=120.315 dinars)