15 Oct 2019 19:28

Alrosa's net profit to RAS plummets 41.2% to 42.2 bln rubles in 9M

MOSCOW. Oct 15 (Interfax) - Alrosa's net profit to Russian Accounting Standards (RAS) fell 41.2% year-on-year in H1 2019 to 42.2 billion rubles, the diamond miner said.

Sales revenue fell 35% to 119.8 billion rubles.

Revenue fell amid a "challenging world diamond market situation," the company said. The same factor affected net profit.

Alrosa financial highlights to RAS, mln rubles:

	9M 2019	9M 2018	Change
Revenue	119 760 499	183 324 740	-35%
Cost of sales	(68 343 787)	(80 041 253)	-15%
Gross profit	51 416 712	103 283 487	-50%
Operating profit	40 859 746	95 694 145	-57%
Other revenue	12 082 033	65 982 373	-82%
Other expenditure	(16 136 446)	(76 164 631)	-79%
Pre-tax profit	50 398 396	89 725 756	-44%
Net profit	42 238 756	72 775 785	-42%

Alrosa plans to unveil consolidated financial results for Q3 and 9M 2019 to International Financial Reporting Standards (IFRS) on November 7.