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Sep 15, 2009 16:54 EEST
BELGRADE (Serbia), September 15 (SeeNews) – Serbia’s oil monopoly NIS said it posted a net profit of 3.8 billion dinars ($59.3 million/40.6 million euro) in the second quarter of 2009 and a net loss of 7.4 billion dinars through June.
The company provided no comparative figures.
In June, Reuters quoted NIS CEO Kiril Kravchenko as saying the company slumped to a loss of 11 billion dinars in the first quarter of 2009.
NIS has managed to shift gears from losing money in the first quarter to becoming profitable in the second quarter, the company said in a statement posted on its website late on Monday.
NIS recorded a consolidated net loss of 4.0 billion dinars in 2008, data from Serbia’s business registry showed.
Russia’s Gazprom bought a 51% stake in NIS from the Serbian government in February 2009 for 400 million euro ($560 million), pledging to invest 547 million euro by 2012.
(1 euro=93.5717 Serbian dinars)
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