Russian mining and steel group Mechel has announced its consolidated financial results for the first quarter of 2012. Mechel's net profit for the first three months decreased by 29.5 percent year on year to $218.01 million.
The net revenue of the company for the period in question amounted to $2.9 billion, increasing by 0.5 percent compared to the same quarter of the previous year. The company's operating income decreased by 30 percent year on year to $314 million.
Mechel's mining segment revenue from external customers in the first quarter of the current year totaled $932.7 million, up 12.6 percent, while its steel segment revenue from external customers in the same period amounted to $1.6 billion, down 6.1 percent, both compared to the corresponding period of 2011.