UPDATE 1-Russia's Novatek Q3 net profit beats forecast

MOSCOW, Nov 12 (Reuters) - Russia's top non-state gas producer Novatek said on Friday its third-quarter net profit rose by 37 percent, beating an analyst forecast, on the back of production and gas prices growth. Novatek's net profit rose to 10.105 billion roubles ($329.6 million) for the July-September period, beating analysts' projection of 9.76 billion as gas output increased to 8.36 billion cubic metres (bcm) from 7.76 bcm in the third quarter 2009. Revenues rose by 34 percent to 29.4 billion roubles, year-on-year. As of 1300 GMT, Novatek's Moscow-traded shares fell by 1.4 percent, underperforming a broader market, which decreased 0.4 percent. ($1=30.64 Rouble) (Reporting by Vladimir Soldatkin; Editing by Jon Loades-Carter) Keywords: NOVATEK/RESULTS (vladimir.soldatkin@reuters.com, +7 495 775 12 42, Reuters Messaging: vladimir.soldatkin.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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