Uralkali RAS net profit tumbles 75% to 5.4 bln rubles in Q1
MOSCOW. April 28 (Interfax) - Uralkali saw its net profit to Russian Accounting Standards fall 75% to 5.4 billion rubles in the first quarter of 2018 from 21.9 billion rubles in the same period last year, the potash miner reported in its financial statement.
The company's revenue slumped 7% to 30 billion rubles in the first quarter.
Other income, which includes FX translation gains, decreased to 1.8 billion rubles from 22.6 billion rubles, while other expenditures fell just one-third, to 5 billion rubles.
Uralkali's gross debt fell 4% during Q1 to 361.3 billion rubles. Short-term loans and other borrowings rose 2% to 116 billion rubles while long-term fell 7% to 245.3 billion rubles.
Uralkali financial highlights to RAS, '000 rubles:
Q1 2018 | Q1 2017 | Change | |
Sales revenue | 30 028 556 | 32 318 504 | -7% |
Cost of sales | (8 016 320) | (8 178 688) | -2% |
Gross profit | 22 012 236 | 24 139 816 | -9% |
Operating profit | 13 642 994 | 15 367 393 | -11% |
Other income | 1 849 576 | 22 600 194 | -92% |
Other expenditure | (4 998 390) | (7 554 884) | -34% |
Pretax profit | 6 526 887 | 26 585 147 | -75% |
Net profit | 5 428 540 | 21 927 872 | -75% |