Mechel’s Chelyabinsk Metallurgical Plant sees net profit in Q1

Chelyabinsk Metallurgical Plant, a subsidiary of Russian mining and steel producing group Mechel, has reported a net profit of RUB 7 billion for the first quarter of the current year, compared with a net loss of RUB 3 billion in the first quarter of the previous year.
 
According to the company statement, in the given quarter its sales revenues increased by 39 percent year on year to RUB 27 billion, mainly due to the increase in sales from Chelyabinsk Metallurgical Plant to the Russian domestic market.