Moscow United Electric Grid Co more than triples 2018 IFRS net profit to 6.6 bln rubles
MOSCOW. March 21 (Interfax) - Moscow United Electric Grid Company (MOESK) boosted net profit to International Financial Reporting Standards (IFRS) more than three-fold to 6.59 billion rubles in 2018, the company said in a report.
Revenue grew from 150.5 billion to 159.5 billion rubles, operating expenses fell to 149.2 billion rubles from 150.5 billion rubles and operating profit grew to 16.78 billion rubles from 8.2 billion rubles.
The company adjusted net profit for 2017: this was 3.08 billion rubles before adjustment.
MOESK serves consumers in Moscow and the Moscow region. Rosseti owns 50.9% of shares, OJSC OEK-Finance has 5.05%, Gazprombank - 4.5% and CJSC Lider - 17.29%.