Alrosa triples Q1 RAS earnings to 18 bln rubles
MOSCOW. April 23 (Interfax) - Alrosa boosted net profit to Russian Accounting Standards (RAS) 2.9-fold year-on-year in Q1 2015 to 17.7 billion rubles, the Russian diamond monopoly said.
Sales revenue grew 50% to 61.639 billion rubles and gross profit rose 80% to 43.3 billion rubles.
Alrosa financial highlights to RAS ('000 rubles):
| Q1 2015 | Q1 2014 | |
| Sales revenue | 61 639 138 | 41 503 568 |
| Cost of sales | 18 332 774 | 17 825 899 |
| Gross profit | 43 306 364 | 23 677 669 |
| Administrative expenses | 6 868 185 | 3 981 554 |
| Operating profit | 31 965 228 | 17 343 834 |
| Profit before tax | 22 970 896 | 8 199 282 |
| Net profit | 17 705 971 | 6 118 197 |
Short-term liabilities grew 19% during Q1 2015 to 50.3 billion rubles and borrowings grew 7% to 22.85 billion rubles.
Alrosa's financial statements to RAS are unconsolidated and do not include the results of its subsidiaries, the largest of which are Alrosa-Nyurba , OJSC Almazy Anabara, Nizhne-Lenskoye and Severalmaz . Alrosa's 33% stake in Angolan company Catoca is not included in its reports to RAS or to International Financial Reporting Standards (IFRS), either.
Alrosa mined 8.4 million carats of diamonds in Q1 2015, 6% more year-on-year.
