Beirut: Russian energy giant Gazprom reported a net profit of 78.4 billion rubles (around $1 billion) for the first half of 2026.

According to Anadolu Agency, Gazprom's financial report highlighted a significant turnaround, as the company achieved a net profit in the first half of 2026, compared to a loss of 10.76 billion rubles ($137 million) during the same period last year. This financial recovery underscores Gazprom's resilience and ability to adapt to changing market conditions.

The company's revenue grew by 2.9% year-on-year in the January-June period, reflecting a steady increase in its financial performance. Despite losing a significant share of the European market, Gazprom remains one of the world's largest natural gas producers, a testament to its enduring influence in the global energy sector.

During the first half of 2026, Gazprom's gross profit surged by 15%, although its pre-tax profit remained constant. This growth indicates effective cost management and operational efficiencies, contributing to the overall profitability of the company.