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ROSSETI Center and Volga Region

April 28, 2018

Net profit of IDGC of Centre and Volga region, JSC for the 1st quarter of 2018 amounted to 4.3 billion rubles

In accordance with Russian accounting standards (RAS) of PJSC "IDGC of Centre and Volga region" has been prepared and released financial statements for Q1 2018.

According to the published reports, the company's revenue for the 1st quarter of 2018 amounted to 26 842.2 million rubles, which is 17.8% more than the value of this indicator for the 1st quarter of 2017. The cost value in comparison with the same period last year increased by 18.2 % and amounted to 21 053.8 million rubles. Net profit of the Company amounted to 324.7 million rubles. (by 6.1 % more in net profit for the 1st quarter of 2017).The increase in net profit is due to the increase in revenue from electricity transmission due to the growth of tariffs for electricity transmission, the emergence of revenue from the resale of electricity and capacity due to the implementation of the functions of the guaranteeing supplier in the Vladimir region, as well as the implementation by the company's management of measures aimed at reducing costs and increasing efficiency.

The amount of electricity released from the networks of IDGC of Centre and Volga region (useful leave) for the 1st quarter of 2018 amounted to 13 663.5 million kWh (-2.1 %). Relative losses amounted to 9.5 % (0.1 PP) Decrease of productive supply of electricity and rising levels of losses due to the elimination of the July 1, 2017 construction of "last mile".

The company's total assets as at 31 March 2018 amounted to RUB 100,587.6 million (an increase of 4.3% compared to the same period last year), including the value of non – current assets – RUB 76,839. 9 million (an increase of 2.8 %), current assets-RUB 23,747. 8 million (an increase of 9.4%).

Net assets for the 12 months increased to 66 475 million rubles.

For more information on accounting statements of IDGC of Centre and Volga region, PJSC for the 1st quarter of 2018, please visit the company's website at the following address: https://www.mrsk-cp.ru/stockholder_investor/disclosure_reporting_info/finansovaya-informatsiya-i-otchetnost/bukhgalterskaya-otchetnost-oao-mrsk-tsentra-i-privolzhya/

 

 

 

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