15 Nov 2011 14:01

GAZ increases revenue 40% in Jan-Sept

NIZHNY NOVGOROD. Nov 15 - OJSC GAZ in Nizhny Novgorod, part of the Russian car manufacture group GAZ, posted revenue of 16.55 billion rubles in January-September 2011, up 40.2% year-on-year, a quarterly report from the company shows.

The main factors influencing revenue growth were changes to production volumes and prices, the report says.

As reported, net profit was 481.12 million rubles in the nine months, compared to a net loss of 296.18 million rubles in the same period of 2010.

Key financial indicators for OJSC GAZ (thsd. rubles):

	9 months 2011	9 months 2010
Revenue	16 554 263	11 807 855
Costs	13 655 542	9 768 219
Gross profit	2 898 721	2 039 636
Sales profit (loss)	1 705 217	1 064 728
Pretax profit (loss)	642 524	(308 630)
Net profit (loss)