(Writes through, adds detail)
MOSCOW, Oct 29 (Reuters) - Rosneft, Russia'sbiggest oil producer, posted on Wednesday a steep fall in itsthird-quarter net income because of a weaker rouble and slidingoil prices, but defied expectations of a net loss.
The state-controlled company, which has been hit by Westernsanctions over Moscow's role in Ukraine, said its July-Septembernet profit fell to 1 billion roubles ($23.3 million) from 172billion roubles in the previous quarter.
Analysts, polled by Reuters, had expected a third quarternet loss of 3.6 billion roubles.
The company said its third-quarter results were underminedby a loss of 95 billion roubles, related to the fall in therouble rate against the U.S. dollar.
Rosneft, which saw net debt stand at 1.77 trillion roublesin the third quarter, has borrowed heavily to finance lastyear's $55 billion acquisition of Anglo-Russian oil firm TNK-BP.
Rosneft's shares rose by almost 1 percent after the report,underperforming a 1.4 percent rise in the broader market.
Rosneft's net profit before losses from foreign currenciesreached 411 billion roubles for January-September. Rosneft addedthat its revenues in nine months stood at 4.2 trillion roubles.
Nine-month earnings before interest, taxation, depreciationand amortisation (EBITDA) were at 869 billion roubles, up from674 billion roubles in the year-earlier period. (1 US dollar = 42.8250 Russian rouble) (Reporting by Katya Golubkova and Vladimir Soldatkin, editingby Elizabeth Piper)
BP (BP.)