Russian energy producer Gazprom recorded a net profit of 114.8 billion rubles during the first nine months of 2026, reversing a steep loss.
The result marks a sharp turnaround from the same period last year, when the state-controlled company posted a net loss of 170.3 billion rubles, according to its standalone accounting statements.
Financial results prepared under Russian Accounting Standards showed that total revenue between January and September rose by 4 percent year on year to 4.44 trillion rubles. Gross profit for the nine-month period increased by 16 percent, reaching 1.45 trillion rubles.
Revenue and production costs
The return to profitability was supported by lower operating costs. Gazprom reported that its total cost of sales over the nine months fell by 0.8 percent to 2.99 trillion rubles.
That reduction included a 0.6 percent decline in the cost of gas sales, which dropped to 1.29 trillion rubles. At the same time, the group saw an increase in its overall debt load. Long-term liabilities rose by 2.9 percent to 6.57 trillion rubles, while short-term obligations climbed by 3.9 percent to 3.03 trillion rubles.
Share price recovery
The improved financial figures follow significant market turbulence earlier in the year. In July, shares in Gazprom tumbled to an all-time low, dropping below 80 rubles each.
Trading prices have since staged a strong recovery, rising by almost 50 percent from that low to reach 115 rubles per share. The rebound brings the stock back into line with levels recorded at the same time last year.
State energy giant
Headquartered in Saint Petersburg, PJSC Gazprom is Russia's state-controlled energy giant and one of the world's largest natural gas extractors. The Russian government holds a controlling stake in the enterprise, which manages the country's trunk pipeline network and serves as a primary contributor to state revenues.
The latest financial filing covers only the parent company under domestic statutory guidelines. Standalone results under Russian Accounting Standards do not reflect the consolidated performance of Gazprom's broader corporate network, which includes extensive oil extraction, power generation, and banking assets that report under international financial reporting standards.
