Russia’s Mechel RAS net loss widens 60% to 4.55 bln rbl Jan–Mar

MOSCOW, Apr 25 (PRIME) -- The net loss of Russian metals and mining giant Mechel widened almost 60% on the year to 4.548 billion rubles in January–March, as calculated under Russian Accounting Standards (RAS), according to a company’s report, seen by PRIME on Monday.

Revenue fell 6.3% to 653 million rubles and gross profit contracted 5.6% to 651.5 million rubles in the period. Sales profit went down 18.7% to 309 million rubles and pre-tax loss increased about 50% to 4.575 billion rubles.

Prime costs fell 79.2% to 1.55 million rubles and administrative costs increased 9.5% to 342 million rubles.

(66.2198 rubles – U.S. $1)

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