Russia's TGK-1 nine-month net profit down 8 pct

MOSCOW Mon Dec 3, 2012 8:39am EST

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MOSCOW Dec 3 (Reuters) - Russian power company TGK-1 , controlled by Gazprom, said on Monday its nine-month net profit was down 8 percent to 3.4 billion roubles ($110 million), hit by decline in electricity prices.

In the same period last year, the company, which supplies power to the city of Saint-Petersburg, had a net profit of 3.7 billion roubles.

TGK-1 added on Monday its revenue stood at 42.4 billion roubles for the period, also down from 43.2 billion seen the same period last year. ($1 = 30.9137 Russian roubles) (Reporting by Anastasia Lyrchikova and Alexei Anishchuk, Editing by Katya Golubkova)

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