Russian wholesale power generator OAO OGK-6 (OGKF.RS) said Friday its 2007 net profit has plummeted 62% on higher operating costs.
Net profit, calculated under International Financial Reporting Standards, totaled 1.56 billion rubles ($66.1 million) compared with RUB4.09 in 2006.
Revenue jumped 23% to RUB35.33 billion on electricity sales growing 12%, while operating costs rose RUB3.76 billion to RUB32.80 billion, OGK-6 said.
OGK-6, which operates power plants in central Russia, is controlled by state gas monopoly OAO Gazprom (GAZP.RS).