OREANDA-NEWS. The net profit of OJSC “Severstal” under Russian Accounting Standards (RAS) in January-September 2006 decreased by 7,4 % to 23,475 billion roubles from 25,347 billion roubles for analogous period of the last year.

According to AK&M, the proceeds of "Severstal" for the period under review have increased by 6,3 % - up to 113,59 billion roubles from 106,82 billion roubles at growth of the cost price up to 76,65 billion roubles from 67,03 billion roubles.

The gross profit of the company reduced to 36,939 billion roubles from 39,785 billion roubles, sales profit - to 34,652 billion roubles from 37,631 billion roubles for January-September 2005. The profit before taxation has made 32,587 billion roubles against 34,139 billion roubles.

Short-term obligations of the company as of September 30, 2006 have made 24,59 billion roubles that is almost in 2 times more than debts at the rate of 12,83 billion roubles as of the beginning of this year. Long-term obligations reduced to 30,15 billion roubles from 42,23 billion roubles.

"Severstal" is the second-largest steelmaking company in Russia. In 2005 it has increased production of steel by 3,5 % - up to 10,8 million tons, and in the first half of  2006 – by 18,6 % up to 6,05 million tons.