RAO ES of East RAS net losses soar to 6.1 bln rubles in 9M
MOSCOW. Oct 28 (Interfax) - OJSC RAO Energy Systems of East, or ES Vostok, saw net losses to Russian Accounting Standards (RAS) increase eight-fold year-on-year from 752 million rubles to 6.1 billion rubles in January-September this year.
The company reported that sales revenues were up 30% at 885.4 million rubles versus 687 million rubles a year earlier.
Pretax losses increased 8.6-fold to 6.07 billion rubles.
Cost of sales surged 5.2-fold to 242 million rubles. Gross profits were pretty much flat year-on-year at 643 million rubles.
Company expenses amounted to 7 billion rubles versus 5.4 billion rubles one year earlier.
The genco had accounts payable of 306.3 million rubles on September 30, where they stood at 402 million rubles at end-2012. Long-term loans amounted to 3.5 billion rubles. The report does not provide a figure for the end of last year.
