VSMPO-Avisma corporation net profit goes up 72%
20.05.2019 — News
VSMPO-Avisma Corporation, PJSC reported a revenue of 20.485 billion rubles following th results of January - March 2019, a jump of 13.6% from the first quarter 2018. The revenue growth was mainly caused by the stronger dollar in Q1 2019 (+16%), resulting in increased export sales in ruble terms.
As RusBusinessNews has been informed by the corporation Press Service, the corporation recognized positive exchange rate differences in the amount of 3.9 billion rubles after it took into consideration the Year-to-Date changes in the exchange rate and revalued the currency balance sheet accounts. Mainly for this reason, the net profit in Q1 2019 increased 72% to 6.996 billion rubles compared to the same period last year.
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