As per its financial results according to international financial reporting standards (IFRS) for the first half of the current year, Russia-based steel pipe producer ChTPZ Group saw its net income increase to RUB 189 million ($4.78 million) compared to a net loss of RUB 311 million ($7.87 million) in the first half of 2013.
The company's revenues declined by three percent year on year in the six months of the current year to RUB 53.964 billion ($1.4 billion).
The group's gross profit increased by 17 percent year on year to RUB 15.539 billion ($0.393 billion) and its EBITDA rose by eight percent year on year to RUB 10.393 billion ($0.263 billion). The EBITDA margin rose by two percent to 19.3 percent.