AvtoVAZ IFRS net loss narrows 83.8% to 4.4 bln rbl in Jan-Jun

MOSCOW, Jul 27 (PRIME) -- The net loss of car producer AvtoVAZ declined 83.3% to 4.413 billion rubles under International Financial Reporting Standards (IFRS) and 55% to 6.597 billion rubles under Russian Accounting Standards (RAS) in January-June, the company said in a statement on Thursday.

The IFRS revenue rose 17.6% to 102.485 billion rubles, while RAS revenue added 16.6% to 104.2 billion rubles.

The RAS gross profit amounted to 4.2 billion rubles against a 3.95 billion rubles loss in the same period of the previous year.

(59.9102 rubles – U.S. $1)

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