Tatneft posts 150 % first half net profit growth to $1.2 bln

Tatneft, Russia's sixth-biggest crude producer, saw its first-half 2011 net profit grow 150 percent year-on-year to 39.5 billion rubles ($1.2 billion), the company said in a statement on Thursday. The company's revenues grew by 37 percent to 293.99 billion rubles from January to June. The company's assets increased to 590.141 billion rubles as of June 30, 2011 from 567.179 billion rubles as of the beginning of the year, the firm said. The company's liabilities decreased to 210.676 billion rubles from 216.633 billion rubles,and shareholder equity grew to 366.38 billion rubles from 338.607 billion rubles.