IDGC Urals lowers IFRS net profit by 25.5% in 2008

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IDGC Urals lowers IFRS net profit by 25.5% in 2008

YEKATERINBURG. Nov 24 (Interfax) - OJSC IDGC Urals lowered IFRS net profit in 2008 by 25.5% to 1.0037 billion rubles, the company said in its materials.

The company's sales revenue went up by 9.4% to 41.593 billion rubles.

OJSC IDGC Urals's financial results for 2008 (in thousands of rubles):

	2008	2007
Sales revenue	41 593 436	38 023 245
Production costs	40 239 752	35 574 719
Profit from sales	1 356 225	2 454 728
Pretax profit	839 460	2 286 552
Net profit	1 003 706	1 346 634

The company said in its materials that its net profit margin for 2008 came to 2.4% against 3.5% in 2007.

IDGC of the Urals, the unified grid operator in the Urals region, includes the grids in Sverdlovsk, Chelyabinsk and Kurgan regions and Perm territory.