25 Oct 2018 13:36

Federal Grid Co boosts RAS profits 30.6% to 33 bln rubles in 9M

MOSCOW. Oct 25 (Interfax) - Federal Grid Co (FGC) posted a net profit of 33.34 billion rubles in January-September 2018, a 30.6% year-on-year increase, the company said in a report.

Revenue grew 11.8% to 160.58 billion rubles, including 158.9 billion rubles from power transmission, up 13.1%. However revenue from grid connections fell to just 82 million rubles in 9M 2018, from 1.82 billion rubles a year previously, due to changes on the schedule for providing services, which depends on requests by consumers, FGC said.

Cost of sales rose 14% year-on-year to 125.48 billion rubles and administrative expenses grew 5% to 5.62 billion rubles.