Russia's Mechel swings to $823 mln net loss in Q2

MOSCOW Tue Oct 2, 2012 3:28am EDT

MOSCOW Oct 2 (Reuters) - Russian steel and coal miner Mechel reported on Tuesday a surprise $823 million net loss for the second quarter of 2012, compared to a $192 million net profit as reported in the year-earlier period.

Stripping off impairment charges, the net loss amounted to $177 million, the company said in a statement.

Analysts expected Mechel to post a second-quarter net profit of $18 million.

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