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Chelyabinsk Forge-and-Press Plant Q3 profit falls YOY

Chelyabinsk Forge-and-Press Plant PJSC said its normalized net income for the third quarter amounted to 18.46 Russian rubles per share, a decrease of 76.8% from 79.54 rubles per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.1 million rubles, a decline of 76.8% from 47.7 million rubles in the year-earlier period.

The normalized profit margin dropped to 0.6% from 3.8% in the year-earlier period.

Total revenue climbed 39.7% year over year to 1.74 billion rubles from 1.25 billion rubles, and total operating expenses climbed 45.3% year over year to 1.62 billion rubles from 1.12 billion rubles.

Reported net income declined 81.1% on an annual basis to 11.0 million rubles, or 18.40 rubles per share, from 58.4 million rubles, or 97.30 rubles per share.

As of Nov. 14, US$1 was equivalent to 66.32 Russian rubles.