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Krasnyj Octyabr swings to profit in Q2

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Krasnyj Octyabr swings to profit in Q2

4915435 said its normalized net income for the second quarter amounted to 7.42 Russian rubles per share, compared with a loss of 4.93 rubles per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 68.4 million rubles, compared with a loss of 45.4 million rubles in the prior-year period.

The normalized profit margin climbed to 3.1% from negative 2.9% in the year-earlier period.

Total revenue grew 41.3% on an annual basis to 2.19 billion rubles from 1.55 billion rubles, and total operating expenses increased 30.5% on an annual basis to 2.21 billion rubles from 1.69 billion rubles.

Reported net income totaled 87.2 million rubles, or 9.46 rubles per share, compared to a loss of 57.7 million rubles, or a loss of 6.26 rubles per share, in the year-earlier period.

s of Aug. 14, US$1 was equivalent to 64.65 Russian rubles.Joint-Stock Co. Krasnyj Octyabr

4915435 said its normalized net income for the second quarter amounted to 7.42 Russian rubles per share, compared with a loss of 4.93 rubles per share in the year-earlier period.