OJSC Varyeganneft reported earnings results for the first quarter of 2016. For the period, the company reported revenue of RUB 3,585,354,000 compared to RUB 3,632,857,000 a year ago. Operating profit was RUB 304,378,000 compared to RUB 143,451,000 a year ago. Pretax profit was RUB 311,727,000 compared to RUB 120,924,000 a year ago. Net profit was RUB 255,176,000 compared to RUB 86,680,000 a year ago. The increase of net profit was caused by a fall in other spending, an increase in operating profit and a rise in gross profit.