Russia’s Mechel swings to 5 bln rbl RAS net loss in Jan–Jun

MOSCOW, Jul 25 (PRIME) -- Russian metals producer Mechel posted a net loss of 4.63 billion rubles in January–June after a 1.636 billion ruble net profit in the same period last year, as calculated under Russian Accounting Standards (RAS), the company said in a statement on Monday.

Revenue rose to 8.19 billion rubles from 1.36 billion rubles. Mechel had an 8.186 billion ruble gross profit after a 1.36 billion ruble gross loss. The sales profit was 7.38 billion rubles after 588 million rubles in the same period last year.

Mechel’s net loss in 2015 was 31.911 billion rubles under RAS, it widened 38.2%.

(64.6270 rubles – U.S. $1)

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