UPDATE: TGC-2 IFRS net profit rises 20.1% to 2.55 bln rbl in 2018

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MOSCOW, Apr 30 (PRIME) -- The net profit of Russian power producer Territorial Generating Company-2 (TGC-2) rose 20.1% to 2.549 billion rubles in 2018, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on Tuesday.

Revenue grew 6.3% to 37.72 billion rubles, while operating expenses increased 2% to 35.4 billion rubles.

Pretax profit went up 5% to 2.84 billion rubles.

Capital and liabilities of TGC-2 shrank by 2.7% in the year to 54.8 billion rubles as of the end of 2018. Long-term liabilities decreased by 0.7% to 18.51 billion rubles, while short-term debt fell 5.2% to 16.95 billion rubles.

(64.6917 rubles – U.S. $1)

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