Bashkirenergo RAS net profit climbs 4.2-fold in 2011
MOSCOW. April 6 (Interfax) - Net profits to Russian Accounting Standards (RAS) for last year at Bashkirenergo amounted to 6.665 billion rubles, a 320% increase from the year before.
The company's annual accounting statement indicates that 2011 sales revenues almost halved to 39.492 billion rubles.
The company's sales costs more than halved to 35.047 billion rubles. Selling sales outfit Bashkortostan Power Sales Company LLC and a reduction of weighted expenses for standard fuel drove a 3.6-fold increase in gross profits to 4.45 billion rubles.
Pretax profits with the company sale almost doubled the 2010 level at 8.78 billion rubles.
Bashkirenergo's charter capital is 1,092,728,485 rubles split into 1,042,667,488 ordinary and 50,060,997 preferred shares with par value of 1 ruble.
According to the list of affiliates as of December 31, 2011, OJSC Sistema-Invest (a Moscow-based subsidiary of AFK Sistema ) had 47.87% of the company's charter capital, or 50.17% of ordinary shares, and Inter RAO 23.73% (24.87%).