TMK’s net loss goes up 32.7%

5 May 2009 (10:51)

The net loss of Pipe Metallurgical Company (TMK) rose by 2,431,390,000 RUR, or 32.7% in the first quarter of 2009, the company’s press officer reports.

The company’s net loss amounted to 9.877 billion RUR (in accordance with the Russian Accounting Standards) in January-March 2009 compared with 7.445 billion RUR in October-December 2008. A year earlier, however, TMK’s net loss came to 2.841 million RUR.

The company’s press service explains their loss figures in the first quarter of 2009 have to do with the re-assessment of their foreign currency liabilities.

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