Russian wholesale electricity generator OAO OGK-1 (OGKA.RS) Monday said its 2007 net profit dropped sharply on the year, adding that unspecified one-off items had inflated its 2006 results.
Net profit, calculated under International Financial Reporting Standards, was 1.97 billion rubles ($82.8 million) last year compared with RUB5.97 in 2006.
However, the company said underlying net profit in 2006 was around RUB739 million, implying a jump of more than three times on the year.