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Russia's Mechel swings to net profit in Q3 due to higher prices
November 28, 2017 / 9:17 AM / 15 days ago

Russia's Mechel swings to net profit in Q3 due to higher prices

MOSCOW, Nov 28 (Reuters) - Russian metals and mining group Mechel said on Tuesday its net profit totalled 6.1 billion roubles ($105 million) in the third quarter after a net loss of 8.9 billion roubles in the previous quarter due to higher prices for its products.

Mechel said its revenue rose 2 percent quarter-on-quarter to 73.4 billion roubles, while earnings before interest, taxation, depreciation and amortisation (EBITDA) were up 9 percent to 18.9 billion roubles. ($1 = 58.3400 roubles) (Reporting by Anastasia Lyrchikova; writing by Polina Devitt; editing by Katya Golubkova)

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