OAO Transneft, Russia’s oil pipeline operator, fell the most in seven months as VTB Capital said its fourth-quarter earnings missed estimates after a $263 million trading loss.
Transneft’s preferred shares tumbled 6.5 percent to 44,846 rubles at the 6:45 p.m. close in Moscow, the biggest drop since Oct. 4 and the lowest level since Nov. 16.
The company posted a “disappointing” $2.22 billion in fourth-quarter earnings before interest, tax, depreciation and amortization, or Ebitda, VTB analyst Olga Danilenko said by phone. That missed VTB’s estimates by 7 percent because of a $263 million trading loss, Danilenko said.
Net income in 2011 climbed to 188.1 billion rubles ($6.1 billion) from 118.6 billion rubles a year earlier under international financial reporting standards, Transneft said today on its website. That beat the average estimate of 186 billion rubles from 10 analysts surveyed by Bloomberg.
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