MOSCOW (Sputnik) – Russian aluminum giant Rusal’s net profit by International Financial Reporting Standards has almost doubled in the fist nine months of 2018, reaching $1.54 billion, the company said in a statement on Monday.
“Rusal’s net profit by International Financial Reporting Standards has increased by 98.1 percent in the [first] nine months of 2018, compared to the same period last year, and has reached $1.54 billion,” the statement read.
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The aluminum production increased by 1.7 percent in January-September, reaching 2.81 billion tonnes, the statement added.
In August, Rusal reported a double increase in its net profit in the first six months of 2018 under the International Financial Reporting Standards (IFRS), totaling $952 million.
Rusal was among the companies and individuals put on the sanctions list. The giant suffered a share price collapse as a result, while Russian aluminum magnate Oleg Deripaska had to step down as Rusal’s director.