Siberian grid co swings to 250 mln IFRS loss in H1
MOSCOW. Aug 28 (Interfax) - The Siberia Inter-District Grid Company posted net losses of 250.236 million rubles to International Financial Reporting Standards (IFRS) for H1 2012, compared to profit of 1.409 billion rubles in the same period of last year, the company said in a statement.
Pretax losses were 676.375 million rubles, compared with 1.721 billion rubles profit a year previously.
Sales revenue fell 8.7% year-on-year to 25.425 billion rubles. This included 24.561 billion rubles from power transmission and 719.141 million rubles from network connections.
IDGC Siberia transmits and distributes electricity in the republics of Altai, Buryatia, Tuva and Khakasia, the Altai, Trans-Baikal and Krasnoyarsk territories and Kemerovo and Omsk regions. It supplied 72 billion kilowatt-hours of electricity in 2011.
The Inter-District Grid Company Holding (IDGC Holding) owns 55.59% of the shares and Donalink Ltd (Cyprus) owns 27.49%.
