Russia's state-owned diamond monopoly Alrosa saw its third-quarter net profit fall 36.4 percent quarter-on-quarter to 9.261 billion rubles ($290.3 million) to IFRS, the company said in a statement on Thursday.
The company's revenue grew 12.6 percent in July-September 2011 to 41.168 billion rubles, Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) increased 3.1 percent to 22.512 billion rubles, while the adjusted EBITDA margin fell to 54.7 percent from 59.8 percent.
Diamond output fell 25.8 percent in the third quarter of 2011 to 6.9 million carats, while sales decreased 9.7 percent to 9.1 million carats.
The company's total debt amounted to 107.483 billion rubles, an 8.2-percent growth quarter-on-quarter, while the total debt/EBITDA ratio decreased to 1.7x from 2.0x.
Alrosa's net profit in the first nine months of 2011 rose 220 percent to 35.528 billion rubles ($1.113 billion) year-on-year, while the company's revenue in January-September 2011 increased 18.8 percent to 107.315 billion rubles.
Alrosa is one of the world's largest diamond companies, accounting for 25 percent of global production.
