16 Nov 2015 15:03

Transmashholding net profit plunges 90% to 1.18 bln rubles in 9M

MOSCOW. Nov 16 (Interfax) - Transmashholding posted a net profit of 1.182 billion rubles in the first nine months of 2015 under Russian accounting standards, 90% less than in the same period last year, the company said in quarterly financials.

Revenue fell 28.6% to 37.202 billion rubles and cost of sales was down 27.2% to 34.89 billion rubles. Transmashholding received no earnings from participation in other organizations in January-September 2015 compared with the 10.147 billion rubles it received a year earlier.

Short-term loan debt declined 12.1% to 5.428 billion rubles and payables were practically unchanged at 12.531 billion rubles. Receivables increased 29.1% to 13.258 billion rubles.