Gazprom PJSC, the world’s biggest natural gas producer, said first-quarter profit rose 71 percent, beating analyst estimates, as a weaker ruble countered lower fuel prices and falling volumes. Net income climbed to 382 billion rubles ($5.9 billion) from 223 billion rubles a year earlier, the Moscow-based company said Monday in a statement. That exceeded the average 353 billion-ruble estimate from eight analysts, according to data compiled by Bloomberg. Revenue rose 5.7 percent to 1.65 trillion rubles. Profit at Gazprom, Russia’s biggest company by market value, rose even as oil’s slump weighed on export prices for its gas, which are linked to crude under most contracts. The company’s average June export price was the lowest since 2007, according to Bloomberg calculations based on Russian customs data. Gazprom may cut its production to a record this year as demand slows in Russia and Ukraine, the government said in July. While gas […]