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Chelyabinsk Forge-and-Press Plant Q2 profit climbs 91.9% YOY

Chelyabinsk Forge-and-Press Plant PJSC said its normalized net income for the second quarter came to 71.28 Russian rubles per share, an increase of 91.9% from 37.14 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 42.8 million rubles, an increase of 91.9% from 22.3 million rubles in the year-earlier period.

The normalized profit margin increased to 3.3% from 1.9% in the year-earlier period.

Total revenue climbed 11.1% on an annual basis to 1.29 billion rubles from 1.16 billion rubles, and total operating expenses climbed year over year to 1.21 billion rubles from 1.18 billion rubles.

Reported net income grew year over year to 51.9 million rubles, or 86.54 rubles per share, from 19.9 million rubles, or 33.10 rubles per share.

As of Aug. 14, US$1 was equivalent to 64.65 Russian rubles.