TGK-1 ups IFRS net profit 25% in Q1
ST. PETERSBURG. May 27 (Interfax) - Generating company TGK-1 boosted its net profit by 24.7% year-on-year to 3.425 billion rubles in Q1 2013, according to the company's financial statement to International Financial Reporting Standards (IFRS).
Revenues climbed 13.5% to 22.577 billion rubles.
Operating profit soared 32.8% year-on-year to 5.037 billion rubles in January-March, and profit before tax rose 31.9% to 4.426 billion rubles. Earnings before taxes, depreciation and amortization (EBITDA) grew 30.6% to 6.733 billion rubles.
TGK-1 manages 55 power plants in St. Petersburg, Karelia and the Leningrad and Murmansk regions. Its installed electrical capacity is 7,024 megawatts (MW), and its heat capacity is 14,735 gigacalories per hour (Gcal/h).
The company is controlled by Russian gas giant Gazprom .
