ChTPZ reports increased net profit in Q1

In the first quarter of the current year, Chelyabinsk Tube-Rolling Plant (ChPTZ), a leading Russian producer of welded and seamless steel tubes and pipes for the Russian oil and gas industry, recorded a net profit of about Ruble 2.488 billion ($85.8 million), compared to Ruble 1.698 billion ($58.58 million) in Q1 2010.
 
Also in Q1 2011, ChTPZ's sales revenues increased by 2.18 times year on year reaching Ruble 20.107 billion ($9.7 billion), against Ruble 9.193 billion ($0.3 billion) in the same period of last year.