Alrosa Posts Decline in Q3 Profits, Revenues Jump

(IDEX Online News) – Russian diamond mining monopoly Alrosa reported a 4-percent decline in profits in the third quarter to $250 million (8.3 billion roubles) mainly as a result of lower foreign currency gains.

The miner also reported that revenue for the quarter rose 41 percent to $1.14 billion (39.1 billion roubles).

Meanwhile, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 26 percent to $483 million (16 billion roubles).

Alrosa raised $1.3 billion in a share sale in October.