Russia's Nizhniy Tagil Steel Works (NTMK), a subsidiary of Russian mining and steel producing company Evraz Group, has reported that its net profit was $1.128 billion ($40.7 million) in the first quarter of this year, 3.4 times more than in the same period of last year.
Also in Q1 2011, NTMK's sales revenues increased by 44.8 percent reaching Ruble 25.686 billion ($0.93 billion).