TMK loses 240.1m
3 November 2010 (11:57)
Pipe Metallurgical Company (TMK) produced a financial report (compiled in accordance with the Russian Accounting Standards) for the third quarter of 2010.
The company incurred 240.1 million RUR worth of net losses against 132.4 million RUR worth of net profit in the second quarter of the year.
Despite the growing revenues and other profits in the third quarter of 2010, the company’s financial performance turned out to be less successful than in the previous quarter because TMK made extra profits from its daughter enterprises’ dividends in the second quarter of the year.
The company incurred 240.1 million RUR worth of net losses against 132.4 million RUR worth of net profit in the second quarter of the year.
Despite the growing revenues and other profits in the third quarter of 2010, the company’s financial performance turned out to be less successful than in the previous quarter because TMK made extra profits from its daughter enterprises’ dividends in the second quarter of the year.
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