ALROSA increased its net profit by 3% in the first 9 months of 2014 compared to January-September 2013, according to the Russian Accounting Standards (RAS), driving it to RUB 23.514 billion, Finmarket reports citing the company financial statement.
ALROSA’s revenue in the first 9 months reached more than RUB 116 billion against RUB 100 billion a year earlier.
The reporting of ALROSA done in line with the Russian Accounting Standards is not consolidated and does not take into account the performance of the miner’s subsidiaries, the largest of which are ALROSA Nyurba, Almazy Anabara, Nizhne-Lenskoye and Severalmaz. The 33-percent share held by ALROSA in Angola’s Catoca is not taken into consideration in ALROSA’s financial statements under the International Financial Reporting Standards (IFRS).
ALROSA produced 36.9 million carats of diamonds in 2013 (up 7% y-o-y). The company accounts for 27% of the worlds’ diamond production by volume.
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