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2012.05.07 | Russia’s Mechel swings to 85 mln rbl RAS net profit in Jan–Mar

Russian metals and mining group Mechel has posted a net profit of 84.933 million rubles in January–March against a net loss of 409.478 million rubles in the same period of 2011, as calculated under Russian Accounting Standards (RAS), the company said Friday.

The company’s revenue plummeted to 696.203 million rubles in January–March from 4.825 billion rubles in January–March 2011, while sales profit dropped to 450.807 million rubles from 3.816 billion rubles.