Russian gas giant Gazprom reported three-month profits of 286 billion Russian roubles ($10.64 billion) on Wednesday and cited sales that had rocketed by 30 percent to 903 billion roubles ($33.6 billion).

Company operating expenses were up 33 percent, however, as new plant is installed to gain more value from raw production, and modernizing contractors are hired. Company finance expenses doubled in the three months that ended in March.

Profits were buttressed by 368 billion roubles ($13.7 billion) in total gas sales, up 40 percent. Despite growth in the home economy, sales rose most outside of Russia.

Sales of oil, including light oil, nearly doubled in the quarter to 58 billion roubles ($2.15 billion).

Tags: Gazprom