IDGC Holding increases RAS net profit 4.6% to 2.83 bln rubles in 9mths
MOSCOW. Oct 29 (Interfax) - OJSC IDGC Holding posted over 2.829 billion rubles in net profit according to Russian accounting standards (RAS) for January-September 2012, up 4.6% year-on-year, the grid company said in its RAS results.
The report said that sales revenue went up by 4.3% to 3.872 billion rubles. The bulk of sale revenue came from revenues from organizing the financing and development of the grid-distribution system, at around 2.1 billion rubles. Revenues from interests in other companies came to 1.64 billion rubles.
The company's gross profit rose by just over 1% to 2.096 billion rubles. Pretax profit came to 3.201 billion rubles, up 6% year-on-year.
IDGC Holding unites 11 interregional and five regional grid-distribution companies. The Russian state owns 54.52% in the holding. The company was recently transferred to the management of OJSC Federal Grid Company.