25 May 2017 13:21

Alrosa net profit tumbles 55% to 22.7 bln rubles in Q1

MOSCOW. May 25 (Interfax) - Alrosa saw net profit tumble 55% in the first quarter of 2017 year-on-year to 22.686 billion rubles, the diamond monopoly said in IFRS financials.

Analysts surveyed by Interfax on Wednesday forecast that the first quarter net profit would amount to nearly 25.3 billion rubles.

Sales revenue fell 17% to 84.813 billion rubles, as forecast.

Total debt fell 31% during Q1 to 98.627 billion rubles, as long-term borrowing fell to 97.788 billion rubles. Cash and cash equivalents rose 34% to 40.609 billion rubles.

Alrosa's financial highlights to IFRS, '000 rubles:

	Q1 2017	Q1 2016	Change
Sales revenue	84 813	102 339	-17%
Cost of sales	(47 933)	(39 057)	23%
Gross profit	36 578	62 980	-42%
Operating profit	24 203	51 439	-53%
Profit before tax	30 367	63 216	-52%
Net profit	22 686	49 889	-55%
Net cash from operating activities	40 389	66 950	-40%
Net cash from investment activities	11 168	(6 279)	-