NIS turns net profit of RSD 10.9 billion in first nine months of 2015

(Photo: nis.rs)

NIS kept its profits on the same level despite unfavorable macroeconomic conditions and low prices of crude oil in the global market. Continuous implementation of the program aimed at increasing the operational efficiency and reducing the costs made it possible for the NIS group to register a net profit of RSD 10.9 billion in the first nine months of 2015 with EBITDA amounting to RSD 32.3 billion, the release reads.

As it is pointed out in the release, NIS continued to invest, setting aside a total of RSD 18.95 billion for investments in the first nine months of 2015, most of which was used to finance oil and gas exploration and production. Operating cash flow was increased by 87% from the same period last year, whereas the overall effect of the measures aimed at increasing the operational efficiency is RSD 5.8 billion. Direct and indirect tax liabilities of the NIS group are at RSD 109.3 billion, up 12% from the first nine months in 2014.

Also, NIS paid a dividend to their shareholders in the third quarter, in August 2015, for the third consecutive year. The company paid a total of RSD 7.64 billion, 25% of the net profit in 2014.