Mechel IFRS net profit jumps to 14 bln rbl in Jan–Mar

MOSCOW, May 31 (PRIME) -- The net profit of Russian metals and mining group Mechel, attributable to shareholders, jumped to 13.902 billion rubles in January–March from 312 million rubles in the same period of 2016, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement Wednesday.

Consolidated revenue increased 24% to 77.414 billion rubles in the period, and earnings before interest, taxes, depreciation, and amortization (EBITDA) more than doubled to 22.806 billion rubles.

The company’s net debt decreased 2% in January–March to 458.859 billion rubles as of March 31.

For further details, please, see the company’s report on its official Web site:

http://www.mechel.com/doc/doc.asp?obj=122063

(56.5168 rubles – U.S. $1)

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