The net profit of Russian titanium giant VSMPO-Avisma soared 70% to 6.996 billion rubles in January–March, as calculated under Russian Accounting Standards (RAS), the company said in a report Thursday.

Revenue increased 13.6% to 20.486 billion rubles, gross profit rose 3% to 7.289 billion rubles. The pretax profit soared 70% to 8.737 billion rubles.