RAS net loss of IDGC of South, JSC for H1 2014 was RUB 438.113 million against a profit of RUB 174.725 million the year before, the company reported.
Revenue increased by 14.66% to RUB 14.164 billion from RUB 12.352 billion, sales profit 2.37-fold to RUB 2.362 billion from RUB 997.577 million, pre-tax profit decreased 6.15-fold to RUB 82.006 million from RUB 504.194 million.
Interregional Distribution Grid Company of South, Joint Stock Company (IDGC of South, JSC, tax number: 6164266561, registered in Rostov-on-Don on June 28, 2007) was established during the investment stage of RAO UES of Russia's restructuring as inter-regional distribution grid companies were downsized. IDGC of South comprised OJSC Kubanenergo, OJSC Volgogradenergo, OJSC Rostovenergo, OJSC Astrakhanenergo, OJSC Kalmenergo.
The authorized capital of IDGC of South is RUB 4.981 billion represented by 49,811,096,064 ordinary nominal book-entry shares at par value of RUB 0.1. JSC Russian Grids owns 51.66% of IDGC of South shares.
IFRS net profit of IDGC of South, JSC for 2013 dropped 6.58 times to RUB 194.112 million from RUB 1.277 billion the year before. Revenue increased by 12.45% to RUB 27.311 billion from RUB 24.286 billion, profit from operations decreased by 28.15% to RUB 2.348 billion from RUB 3.268 billion, pre-tax profit 2.83-fold to RUB 601.796 million from RUB 1.701 billion.
According to the DataCapital information retrieval system, RAS net profit of IDGC of South, JSC for 2013 was RUB 27.19 million against a loss of RUB 3.303 billion the year before. Revenue increased by 16.88% to RUB 27.426 billion from RUB 23.464 billion, sales profit 2.23-fold to RUB 3.418 billion from RUB 1.532 billion, pre-tax profit was RUB 387.544 million against a loss of RUB 3.461 billion.
RAS net loss of OJSC IDGC of South for Q1 2014 was RUB 224.702 million against a profit of RUB 38.251 million the year before. Revenue increased by 15.25% to RUB 7.415 billion from RUB 6.434 billion.