Azerbaijan, Baku, May 15 /Trend E. Kosolapova/
The Kazakhstan Electricity Grid Operating Company (KEGOC) decreased net profit by 18 percent in the first quarter of 2012, Novosti-Kazakhstan reported with the reference to the company's audited consolidated statement under International Financial Reporting Standards (IFRS).
KEGOC's net profit in the first quarter of 2012 hit 2.238 billion tenge ($15.1 million) compared to 2.735 billion tenge ($18.5 million) in the same period of 2011.
The company's revenue grew by 9.6 percent up to 15.612 billion tenge ($105.5 million) during the reporting period. Gross profit increased by 19.3 percent up to 4.663 billion tenge ($31.5 million).
KEGOC's assets increased by 0.4 percent in January-March 2012 and amounted to 218.377 billion tenge ($1.5 billion), equity rose by 1.9 percent up to 123.204 billion tenge ($832 million).
The company's current liabilities decreased by 9 percent to 16.811 billion tenge ($113.6 million) and long-term liabilities increased by 0.3 percent to 78.361 billion tenge ($529.5 million).
KEGOC is a system operator of the Kazakhstan's power system. Its activity is aimed at transferring electrical energy to the national power grid. Moreover, the company ensures maintenance of the national power grid.