MOSCOW. April 30 (Interfax) - OJSC IDGC Holding's net profit decreased by 15% year-on-year to 379 million rubles in the first quarter of 2010, the company said in a statement.
The company said that profit plummeted by 151 times in comparison with the fourth quarter of 2009. This was owing to the posting of 57.26 billion rubles in "balance sheet profit" from the reevaluation of assets according to market values. IDGC Holding posted 57.2 million in regular net profit for the fourth quarter.
OJSC IDGC Holding owns controlling stakes in 11 interregional power distribution companies. The Russian Federation owns 52.7% in the IDGC Holding.