Russia's largest hydro power generator RusHydro posted a 64.7% fall in net profit for 2010 to 11.33 billion rubles ($406 million) to IFRS, the firm said on Wednesday.
"The main reason for the fall in 2010 net profit from current activities is the recognition of a 24.293 billion ruble loss from fixed assets depreciation," RusHydro said in a statement.
RusHydro's current expenses rose 23.5% to 367.8 billion rubles, while EBITDA rose 16% to 61.6 billion roubles.
Liabilities increased 31.5% to 132.892 billion rubles due to a placement of a bond issue and increased tax liabilities after fixed assets revaluation.
MOSCOW, April 27 (RIA Novosti)
