The net profit of X5 Retail Group, Russia’s largest retail company (in terms of sales), went down by 31.6% in January-March 2012 compared with a year earlier. The figures were calculated in accordance with the Russian Accounting Standards and came to $66.6m, the company reports.

The retailer made $96.9m RUR in terms of net profit in the first three months of 2011.

The Group runs Perekrestok and Carousel supermarkets in Yekaterinburg.