UPDATE: WGC-2 RAS net profit falls 6.7% to 4.9 bln rbl in Jan–Mar

(Adds details in paragraphs 2, 4–5)

MOSCOW, Apr 27 (PRIME) -- The net profit of Russian power producer Wholesale Generating Company-2 (WGC-2) fell 6.7% on the year to 4.9 billion rubles in January–March, as calculated under Russian Accounting Standards (RAS), the company said on Friday.

Revenue went up 2.3% on the year to 39 billion rubles in the period. The gross profit fell 7% to 7.8 billion rubles.

Earnings before interest, taxes, depreciation and amortization (EBITDA), shrank 7.1% to 9.4 billion rubles.

The cost of sales grew 5% to 31.3 billion rubles. Administrative costs went up 27.3% to 637.4 million rubles. Corporate profit tax contracted 11.9% to 517.1 million rubles.

Capital and reserves of WGC-2 increased 4.1% in the period to 125.1 billion rubles as of the end of March. Long-term liabilities rose 9.3% to 65.7 billion rubles, while short-term liabilities decreased 20.2% to 15.7 billion rubles.

(62.6027 rubles – U.S. $1)

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