TGK-2's net profit up almost 100% to 943 mln rubles
MOSCOW. July 27 (Interfax) - Generating company OJSC TGK-2's net profit according to Russian accounting standards (RAS) came to 943.236 million rubles in the first half of 2012, up 80% from 515.028 million rubles in the same period of 2011, the genco said in its financial reporting.
The report said that pretax profit increased by 70% to 1.292 billion rubles.
However, the company's sales revenue declined by 2.9% to 14.827 billion rubles. Production costs went down by 8.7% to 12.945 billion rubles.
TGK-2 is a heat and power generation company that operates in six regions across the north of European Russia. TGK-2 owns 15 combined heating power plants, 13 boiler houses and 2,000km of heat supply pipes. Its combined installed electric capacity is 2,582.5 MW and heat capacity is 12,473 GCal per hour.
