The net loss of IRC Ltd, the iron ore division of Petropavlovsk Plc, which runs gold deposits in Russia, widened by 60% YoY, to $25.224 million, the company said in a statement.
The loss adjusted for one-time expenditures and the exchange rate-related loss stood at $8.219 million.
Revenue grew by 27%, to $89.244 million, and earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 12%, to $13.164 million. The pretax loss widened by 70%, to $25.932 million. (Prime/Ukrainian metal)