Russian diamond mining company ALROSA has posted an increase in net profit in the first half of 2025, despite a decrease in revenue.
Revenue under Russian accounting standards (RAS) decreased by 24% to 116.04 billion rubles ($1.453 billion), while net profit increased by 12.2%, to 39.03 billion rubles ($489 million) compared to 34.77 billion rubles ($435.5 million) a year earlier.
Sales profit for the first six months of 2025 halved to 19.2 billion rubles ($240.5 million) against 40.47 ($507 million) billion rubles for the same period of 2024.
Earlier this year, ALROSA completed the sale of its stake in the Angolan state diamond mining company Catoca to Oman sovereign wealth fund Taadeen.
“In December 2024, the company decided to terminate its participation in Angolan enterprises by selling a share amounting to 41% of the authorized capital,” ALROSA’s notes in its report.
“On May 26, 2025, the transaction to terminate the Company’s participation in Angolan enterprises was completed.”
The amount of the transaction was not disclosed, however, according to an analyst’s estimate cited by Interfax, it could exceed 30 billion rubles ($376 million).
Theodor Lisovoy, Managing Editor, Rough&Polished
