29 Oct 2014 17:17

FGC UES swings to RAS net profit of 1.3 bln rubles in 9M

MOSCOW. Oct 29 (Interfax) - Federal Grid Company of Unified Energy System (FGC UES) posted net profit to Russian Accounting Standards (RAS) of 1.3 billion rubles versus 3.8 billion rubles in losses for the same period of last year, the company said in an earnings report.

Revenue advanced 8.3% to 124.3 billion rubles, while cost of sales, including management expenses, totaled 105 billion rubles. Gross profit was 29.3 billion rubles, up from 24.9 billion rubles for 9M 2013.

While FGC UES did not post interest due in 2013, this year's figure was 3.88 billion rubles.