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Chelyabinsk Forge-and-Press Plant Q2 profit climbs 43.0% YOY


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Chelyabinsk Forge-and-Press Plant Q2 profit climbs 43.0% YOY

Chelyabinsk Forge-and-Press Plant PJSC said its normalized net income for the second quarter amounted to 101.90 Russian rubles per share, an increase of 43.0% from 71.28 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 61.2 million rubles, an increase of 43.0% from 42.8 million rubles in the prior-year period.

The normalized profit margin rose to 3.7% from 3.3% in the year-earlier period.

Total revenue rose 27.8% on an annual basis to 1.64 billion rubles from 1.29 billion rubles, and total operating expenses rose 32.9% year over year to 1.45 billion rubles from 1.09 billion rubles.

Reported net income grew 34.6% year over year to 69.9 million rubles, or 116.49 rubles per share, from 51.9 million rubles, or 86.54 rubles per share.

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