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MRSK Volga BOD affirmed innovation policies.

June 19 MRSK Volga BOD affirmed innovation polices, the company informed.

The scheme of the production assets management and allocation of available cash flow were approved with some other issues.

MRSK Volga (TIN 6450925977) was registered in 2007 in Saratov. It involves 7 branches including Mordovenergo, Orenburgenergio, Penzaenergo and Chuvashenergo; Saratovskie, Samarskie, Ulyanovskie dispatching networks.

The share capital is equal to 17.858bn rub. split in 178577801146 common stocks of 0.1 rub. par each. Russian Grids keeps 67.626% in the Company.

The 2013 net profit (RAS) dropped 21.14 fold to 54.955mln rub. from 1.162bn rub. prior year; revenues being up 7.47% to 49.18bn rub. from 45.764bn rub.; profit from sales declined 2.94 fold to 1.023bn rub. from 3.012bn rub.; pretax profit - 7.52 fold to 283.381mln rub. from 2.131bn rub.

The 2013 net profit (IAS) moved down 40.31% to 1.451bn rub. from 2.431bn rub. prior year period; revenues being up 7.17% to 49.202bn rub. from 45.908bn rub.; pretax profit plunged 48.46% to 1.7bn rub. from 3.299bn rub.; operating profit - 34.41% to 2.445bn rub. from 3.727bn rub.

"AK&M", 14:45, 23.06.2014 1251 AKM,COR


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