The net profit of Russian metals and mining group Mechel, attributable to shareholders, jumped to 13.902 billion rubles in January-March from 312 million rubles in the same period of 2016, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on May 31.
Consolidated revenue increased by 24%, to 77.414 billion rubles in the period, and EBITDA more than doubled to 22.806 billion rubles.
The company’s net debt decreased by 2% in Q1, to 458.859 billion rubles as of March 31. (Prime/Ukrainian metal)