Volga TGK boosts net profit 130% in 2013
SAMARA. May 13 (Interfax) - Volga TGK (TGK-7) boosted 2013 net profit 130% to 2.299 billion rubles, the company said in its IFRS financial statement.
Revenue was up 11.1% to 70.269 billion rubles and pretax profit increased 82% to 3.075 billion rubles.
Operating expenses grew 10% to 67.539 billion rubles.
Assets increased 13% to 96.891 billion rubles. Long-term liabilities were up 24% to 8.027 billion rubles and short-term liabilities were up 28% to 32.610 billion rubles.
The report incorporates revisions to some indicators for 2012, namely earnings, operating expenses, pretax profit and long-term liabilities.
It was reported earlier that RAS net profit was up 680% to 2.1 billion rubles in 2013 and revenue rose 11% to 59.1 billion rubles.
TGK-7 unites 21 combined heat and power plants in Samara, Saratov, Ulyanovsk and Orenburg regions. Combined capacity totals 6,236 megawatts of electricity and 26,481 Gcal/hr of heat. IES Holding held a 24.86% stake as of December 31, 2013.
