Acron's RAS net profit doubles to 7.2 bln rubles in Q1
MOSCOW. April 29 (Interfax) - The net profit of Acron to Russian Accounting Standards (RAS) doubled in Q1 2016 to 7.221 billion rubles, the fertilizer producer said in a statement.
The company said "other income", reflecting income from the sale of assets and FX translation, exchange-rate differences, soared 16-fold to 11.573 billion rubles. Acron sold a 0.93% stake in potash miner Uralkali in Q1 2016. The stake currently has a market value of 4.5 billion rubles.
Acron's sales revenue fell 7% to 13.705 billion rubles.
Cost of sales for the first three months of this year grew 21% to 6.911 billion rubles. Gross profit grew 1.3-fold to 6.794 billion rubles.
Sales profit in Q1 was 4.987 trillion rubles, 33% less than the same period last year.
Earnings before taxes, depreciation and amortization (EBITDA) also fell a third totaling 5.32 billion rubles. EBITDA margin was 39% as opposed to 53% the year before.