JSC “OGK-6”: IFRS Financial Statements for the First 3 Months of 2010

JSC “OGK-6”: IFRS Financial Statements for the First 3 Months of 2010

The company revenues in the first quarter of 2010 increased 11% compared to the same period of 2009 to 12,348 mln roubles. Revenues from electricity and capacity sales after three months of 2010 reached 11,363 mln roubles or 11% more than the results of the same period of 2009. Revenues from heating sales also rose 11% and amounted to 852 mln roubles. The rise in revenues was caused by the growth of electricity volumes sold at the wholesale market.
The operating expenses rose 26% to 11.2 bln roubles, particularly because of increase in fuel consumption resulted from the growth of electricity production during the cold period as well as from the changes in the fuel mix.
Consequently, operating profit in the reported period amounted to 1,231 mln roubles, and net profit totaled 903 mln roubles.