Kazakh Samruk-Energy significantly ups net profit
Baku, Azerbaijan, Nov. 8
By Elena Kosolapova - Trend: Kazakh company Samruk-Energy increased its net profit by 153 percent to 28.118 billion tenge (153.77 tenge = $1) in the first nine months of 2013 compared to the same period of 2012, the company said on Nov. 7.
Samruk-Energy's revenue from products and services increased by 48 percent to 98.203 billion tenge.
The company's electricity production increased by 10.806 billion kWh hit 20.830 billion kWh in the reporting period. The increase in production resulted from transfer of 50 percent shares of Ekibastuz GRES power plant to Samruk-Energy's authorized capital, increased loading of Zhambyl GRES power plant named after Baturov and launch of the Moinak hydro power plant in December 2012.
Samruk-Energy is the Kazakh state holding developing and realizing the long-term state policy on modernization of existing and input of new generating capacities. Its main shareholder is Kazakh National Wealth Fund Samruk Kazyna.