MOESK RAS net profit jumps 70% to 5.1 bln rbl in Jan–Jun

MOSCOW, Jul 29 (PRIME) -- The net profit of Russia’s Moscow United Electric Grid Company (MOESK), a subsidiary of state power grid holding Rosseti, jumped by about 70% on the year to 5.055 billion rubles in January–June, as calculated under Russian Accounting Standards (RAS), the company said in a report on Monday.

Revenue went up 2% on the year to 78.086 billion rubles in the period. Gross profit rose 9.7% to 10.019 billion rubles, while other incomes increased 0.4% to 3.354 billion rubles.

The cost of sales grew 1% to 68.067 billion rubles, while other expenses shrank 27.9% to 3.426 billion rubles. Corporate profit tax rose 17.6% to 1.399 billion rubles.

Capital and reserves of MOESK gained 1% in the period to 193.674 billion rubles. Long-term liabilities of the company decreased 3.9% to 85.048 billion rubles as of the end of June, while short-term liabilities gained 0.02% to 67.629 billion rubles.

(63.1271 rubles – U.S. $1)

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