18.06.2008
Russian utility Mosenergo said its net profit more than tripled in the first quarter, while revenue rose by 23 percent on higher sales and prices.
The company said in a statement its net profit jumped to 2 billion roubles ($84.6 million) from 594 million in the same period last year. Revenue rose to 31 billion roubles from 25 billion.
Mosenergo, the main supplier of power to Moscow, said revenue rose due to higher sales of power and heating energy and increased tariffs. The results were calculated to international accounting standards.
Mosenergo is controlled by Russia's gas export monopoly Gazprom
Source: Reuters
