25 Nov 2019 15:41

Power grid operator IDGC of Northwest's net profit to IFRS up slightly to 750 mln rubles in 9M

ST PETERSBURG. Nov 25 (Interfax) - Inter-regional Distribution Grid Company of Northwest (IDGC of Northwest) saw its net profit to International Financial Reporting Standards (IFRS) rise 0.8% year-on-year in January-September 2019 to 750 million rubles, the company said in reporting.

Revenue was down 24.8% to 35.3 billion rubles, including 5.6 billion rubles from electricity sales, 28.65 billion rubles from power transmission and 419 million rubles in connection fees.

EBITDA grew 16.6% year-on-year in 9M 2019 to 5.2 billion rubles.

IDGC of Northwest serves seven regions in Russia's Northwest Federal District with a combined area of 1.586 million square km and population of 6.3 million. The company includes seven affiliates: Arkhenergo, Vologdaenergo, Karelenergo, Kolenergo, Komienergo, Novgorodenergo and Pskovenergo. The controlling shareholder is Rosseti with a 55.38% stake.