Power Machines’ IFRS net loss widens to 10 bln rubles in Jan–Jun

MOSCOW, Aug 29 (PRIME) -- The net loss of Russian power engineering company Power Machines widened to 10.167 billion rubles in January–June from 1.782 billion rubles in the same period of 2017, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Wednesday.

Revenue fell 23.2% to 23.328 billion rubles, the gross loss amounted to 2.272 billion rubles after a gross profit of 5.713 billion rubles a year ago, the pre-tax loss amounted to 10 billion rubles after a profit of 1.494 million in same period of the previous year.

(67.3911 rubles – U.S. $1)

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