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Likhachov Plant Q2 loss widens 37.3% YOY

Public Joint-Stock Co. Likhachov Plant said its normalized net income for the second quarter was 622.1 million rubles, compared with a loss of 453.1 million rubles in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 274.3% from negative 172.9% in the year-earlier period.

Total revenue declined 12.6% on an annual basis to 228.9 million rubles from 262.0 million rubles.

Reported net income came to a loss of 909.7 million rubles, compared with a loss of 471.2 million rubles, or a loss of 177.16 rubles per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to 64.82 Russian rubles.