Sinara’s plant net profit drops 192%

25 March 2009 (10:39)

Sinara Group’s Ural Railway Machine-Building Plant’s net profit plummeted by 29.363 million RUR, or 192% in the last quarter of 2008, that is, from 1.296 million RUR in the third quarter of the year to -14.067 million RUR in the last one.

The enterprise reports this drop has to do with the increase in the outgoings (not sales-related ones) because of the growing U.S. dollar exchange rate and their foreign exchange loan thus becoming much costlier.

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