OREANDA-NEWS. JSC TGC-1 published its 1H 2016 financial statements under the Russian Accounting Standards (RAS).

The company's revenue in 1H 2016 increased by 11.7% YoY to make RUB 39,036.9 mln.

Revenue from heat sales increased by 11.3% to make RUB 16,305.5 mln due to growing output in colder weather.

Revenue from electricity sales increased by 3.8% to make RUB 14,975.2 mln. Revenue from capacity sales increased by 34.8% YoY to make RUB 7,635.2 mln due to growing capacity output at the competitive capacity auction.

Production cost increased by 6.1% to make RUB 33,219.1 mln mostly due to the required production support for the growing heat output.

Gross profit of JSC TGC-1 in 1H 2016 increased by 59.9% to make RUB 5,817.8 mln. EBITDA decreased by 11.4% to make RUB 7,330.9 mln. Net profit in the reporting period increased by 38.2% YoY to make RUB 3,772.1 mln.