Mechel swings to 420 mln rbl RAS net loss in January–September

MOSCOW, Oct 22 (PRIME) -- Russian metals and mining group Mechel posted a net loss of 420.452 million rubles in January–September after a net profit of 4.58 billion rubles in the same period of 2019, as calculated under Russian Accounting Standards (RAS), the company said in a report late on Wednesday.

The report is not consolidated and does not reflect activities of the entire group.

Revenue decreased by 7.2% to 11.286 billion rubles, the gross profit fell by 9.1% to 10.991 billion rubles, and the sales profit slid by 11.4% to 9.643 billion rubles.

Capital and reserves decreased 18.4% in the period to 7.837 billion rubles.

Long-term liabilities grew by 5% in January–September to 230.352 billion rubles, while short-term liabilities rose by 3.3% to 58.783 billion rubles.

(77.0322 rubles – U.S. $1)

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