Magnit says IFRS net profit rises by 7% to 16 bln rbl in Jul–Sep

MOSCOW, Nov 14 (PRIME) -- The audited net profit of Russian grocery retailer Magnit grew by 7% on the year to 15.644 billion rubles in July–September, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on Tuesday.

Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 2.3% to 68.460 billion rubles, the gross profit by 7.9% to 145.843 billion rubles. 

In accordance with the industrial standards, the company's net profit increased by 7.8% on the year to 17.6 billion rubles in July–September.

Combined revenue increased by 5.7% to 628.5 billion rubles, retail revenue rose 7% to 623.9 billion rubles. EBITDA stood at 42.4 billion rubles, the EBITDA margin at 6.7%.

(92.1185 rubles – U.S. $1)

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