ALROSA third quarter loss of $223 Million USD

A reported a loss of RUB 10.3 billion for the third quarter ending September 30, is primarily  foreign exchange losses. ALROSA posted a profit of RUB 8.3 billion $180 million for 2013.

Western sanctions imposed in response to the Ukraine crisis have devalued the Ruble by 27 percent since January.

ALROSA reported operating profit fell only 2 percent year on year to $258 million. Revenue rose 8 percent to $909 million with the average price of its gem-quality diamonds down 9 percent from the previous quarter to $182 per carat.

The company noted that the average price fell mainly due to a change in its product mix, while market prices rose 3 percent. 

Leave a Reply

Your email address will not be published.