The net profit of "Rosseti Moscow Region" under IFRS for 3 months of 2021 increased by more than 62%
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"Rosseti Moscow Region" (ticker MSRS on the Moscow Exchange), a member of the Rosseti Group of Companies providing electric power transmission services in Moscow and the Moscow region, publishes consolidated financial results in accordance with International Financial Reporting Standards (IFRS) for 3 months of 2021.
Key financial indicators:
|Ser. No.||Indicator name||the 1st quarter of 2021||the 1st quarter of 2020||The change,%|
|- from electric power transmission||45,827||40,031||14.5|
|- from technical connection||1,754,175||1,601||9.6|
|- non-tariff services||1,415||443||219.4|
According to the results of the work for 3 months of this year, the company received a net profit of 6.5 billion rubles, which exceeds the level of the net profit for the 1st quarter of 2020 by 62.8%.
The company's revenue amounted to 49 billion rubles, which is 16% higher than the same indicator for the previous year. The key factor that had a positive impact on revenue was the growth of energy consumption in the Moscow region, as well as an increase in revenue from non-tariff services.
The increase in operating expenses in the reporting period was mainly due to an increase in the cost of services provided by territorial grid organizations due to an increase in energy consumption.
The following subsidiaries are included in the consolidated financial statements: JSC MOESK-Engineering, JSC "Plant on the repair of electrical machinery", JSC Energotsentr.
The consolidated interim financial statements of PJSC "Rosseti Moscow Region" under IFRS for the three months ended on March 31, 2021 are available on the Company's corporate website and are available at: rossetimr.ru/invest_news/otchetnost/otchet_msfo