Russia's steel pipe manufacturing company for the oil and gas industry, TMK, increased its revenue by 6 percent quarter-on-quarter in the second quarter of 2018, TMK announced Thursday.
TMK confirmed its revenue for the second quarter of this year was around $1.35 billion.
The company noted that its first half revenue for 2018 also increased by 28 percent year-on-year to $2.63 billion.
The company's adjusted earnings before interest and tax also increased by 23 percent quarter-on-quarter to $197 million.
TMK said the increased revenue was due to stronger pipe sales and higher prices at the American and European divisions and the stable performance of the Russian division.
By Murat Temizer