RUSAL says Q3 net profit jumps to $432 mln

HONG KONG Sun Nov 13, 2011 7:34pm EST

HONG KONG Nov 14 (Reuters) - Russia's United Company RUSAL Plc, the world's top aluminium producer, said on Monday its third quarter net profit jumped sharply from a year ago despite weak economic conditions that dampened prices and demand for the light metal.

RUSAL, which competes with U.S. aluminium maker Alcoa Inc and China's Chalco , posted a net profit of $ 432 million in the three months ended September, beating an average forecast of $ 409 million from 10 analysts polled by Reuters.

This compared with profit of $ 29 million for the same period a year earlier, it said in a statement .

Shares of RUSAL ended down 2.4 pct on Friday. They have lost nearly half of their value this year, underperforming a 17 percent loss in the benchmark Hang Seng Index.