Russia’s AvtoVAZ RAS net loss narrows 18% to 35.5 bln rbl in 2016

MOSCOW, Feb 10 (PRIME) -- The net loss of Russia’s largest carmaker AvtoVAZ narrowed by 18% to 35.467 billion rubles in 2016, as calculated under Russian Accounting Standards (RAS), the company said in a report on Friday.

Revenue rose 11.45% to 189.974 billion rubles in the year. Gross loss fell 3.5% to 4.9 billion rubles.

Previously, the company said its net loss calculated under International Financial Reporting Standards (IFRS) narrowed 39.3% to 44.8 billion rubles in 2016.

(59.0235 rubles – U.S. $1)

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