Russian gas giant Gazprom saw its January-March 2011 net profit jump 44 percent year-on-year to 467.969 billion rubles ($16 billion) to IFRS, the firm said in a statement on Tuesday, August 30.

Revenue rose 38 percent to 1.316 trillion rubles in the quarter.

Pre-tax profit increased about 40 percent to 591.066 billion rubles in the first quarter of 2011 year-on-year, the company said, RIA Novosti reported.