The Russian steel producer Novolipetsk Steel (
NLMK) announced its third quarter financial results on November 1 under the Russian Accounting Standards (RAS).
According to the company release,
NLMK's sales revenue increased by 48.1 percent, gross profit rose by 105.6 percent, operational profit rose by 102.8 percent and net profit increased by 193.2 percent year on year in the third quarter of 2006. The respective figures in Rubles were 40.04 billion ($1.5 billion), 20.2 billion ($757 million), 17.5 billion ($656 million) and 19 billion ($710 million).
NLMK showed strong Q3 financial results due to a rise in pricing environment, the company's officials said.