Reuters logo
Russia's Alrosa says Q1 net profit down 3 pct y/y to 6.1 bln roubles
June 24, 2014 / 5:11 AM / 3 years ago

Russia's Alrosa says Q1 net profit down 3 pct y/y to 6.1 bln roubles

MOSCOW, June 24 (Reuters) - Russian diamond mining company Alrosa said on Tuesday its first-quarter 2014 net profit had decreased by 3 percent, year-on-year, due to higher foreign exchange losses.

The miner, the world’s top producer by output in carats, said its net profit was down to 6.1 billion roubles ($177 million) after the rouble currency weakening caused the revaluation of the dollar-denominated part of its debt.

Revenue increased by 43 percent to 56.3 billion roubles ($1.6 billion) as a result of higher sales volume and the rouble weakening. Diamond sales were up 23 percent to a record 12.7 million carats.

The company said it had increased available bank loans and public debt instruments to $4.2 billion as of June 24 to create a liquidity source for the upcoming $500-million Eurobond repayment in the fourth quarter 2014.

$1 = 34.4672 Russian Roubles Reporting by Polina Devitt

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below