24 Aug 2018 13:31

MOESK expects 2018 RAS net profit of 6.5 bln - 7 bln rubles

MOSCOW. Aug 24 (Interfax) - Moscow United Electric Grid Company (MOESK) is expecting to see net profit to Russian Accounting Standards (RAS) of 6.5 billion - 7 billion rubles, a company representative said on a conference call.

"Growth will be linked with accounting for tariff regulation," the representative said. The increase in the grid company's gross revenue requirement this year reached nearly 5 billion rubles. Furthermore, unlike last year, MOESK is not expecting write-down on provisions for accounts receivable.

As reported, the company's net profit to RAS in 2017 totaled 2.67 billion rubles, with net profit to IFRS totaling 3.08 billion rubles.