UTair RAS net profit plummets 54,7% to 996 mln rbl in January-September

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UTair RAS net profit plummets 54,7% to 996 mln rbl in January-September

The net profit of Russian airline UTair plummeted about 54.7% on the year to 966 million rubles in January–September, as calculated under Russian Accounting Standards (RAS), the company said in a report on Thursday.

Revenue fell 2.5% on the year to 42.4 billion rubles in the period, and gross profit decreased 19.8% to 2.8 billion rubles. Other incomes plunged about 67% to 4.9 billion rubles.

The cost of sales went down 1% to 39.65 billion rubles, and other expenses shrank about 68% to 4.6 billion rubles.

Long-term liabilities of UTair rose 2.3% in the period to 83.9 billion rubles as of the end of September. Short-term liabilities fell 28.1% to 9.5 billion rubles.