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Energy

Russia's Mosenergo Q1 net rises 20 percent

* Q1 net profit rises to 5.63 bln roubles

* Revenue up 33.8 pct to 50.73 bln

* Shares 1 percent higher

MOSCOW, June 15 (Reuters) - Moscow power-generation company Mosenergo MSNG.MM, controlled by Gazprom GAZP.MM, increased net profit 20 percent to 5.63 billion roubles ($179.5 million) in the first quarter of 2010.

The company, which supplies the Moscow region and is 21 percent owned by the Russian capital’s government, said on Tuesday revenue rose 33.8 percent to 50.73 billion roubles ($1.6 billion).

A colder winter than the previous year brought higher fuel costs, which dragged the company’s operational revenue down 4.7 percent.

Mosenergo shares were 1.1 higher at 1112 GMT, slightly underperforming the wider Moscow market </MCX>. (Reporting by Nastassia Astrasheuskaya; Editing by John Bowker and David Holmes)

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