In Q1, Alrosa increased its net profit under IAS 3.7 times

In the first quarter of 2015, Alrosa increased its net profit under IAS 3.7 times as compared to the same period last year to 22.231 billion rubles, which is below the consensus forecast of analysts, the largest Russian diamond company reported.

Analysts, polled by the RIA Novosti, expected the net profit in the amount of 24.460 billion rubles. The growth index, in particular, was contributed by the decrease in the loss from exchange rate differences.

In January-March, EBITDA increased almost 1.65 times to 42.863 billion rubles, which was caused by the increase in gross profit from the sales of diamonds. The EBITDA margin increased to 57% from 46% in the previous year. Analysts expected EBITDA at the level of 42.553 billion rubles.

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