17 May 2011 17:06

SUEK gencos see Q1 profits slide

MOSCOW. May 17 (Interfax) - The two territorial generating companies run by Siberian Coal and Energy Company (SUEK) reduced net profit to Russian Accounting Standards (RAS) in Q1 2011.

The Yenisei genco or TGK-13 said it closed Q1 with net profit of just 543.48 million rubles, compared with 4.317 billion rubles in the same period of last year.

Sales revenue grew 3.3% year-on-year to 6.71 billion rubles.

Yenisei Generating Company financial highlights in Q1 2011 ('000 rubles):

	Q1 2011	Q1 2010
Sales revenue	6 931 545	6 711 968
Cost of sales	6 336 946	5 540 788
Gross profit	594 599	1 171 180
Pretax profit	729 956	4 534 734
Net profit	543 481	4 317 436

OJSC Kuzbassenergo (TGK-12) made 700.598 million rubles in net profits in the first quarter of this year, 63.9% less year-on-year, the company has said. Sales revenues were down 6.1% at 9.570 billion rubles.