KamAZ reports net profit for Q1, 2002

The net profit of Russia's leading truck producer KamAZ amounted to 47.7m rubles (about $1.53m) in the first quarter of 2002 as compared to 278.4m rubles ($8.91m at the current exchange rate) in losses in the first quarter of 2001, the company's report says. The company's sales proceeds dropped 24 percent to 3.425bn rubles (about $110m) in the first quarter of this year and sales profits went down 51 percent to 142.7m rubles ($4.57m). The pre-tax profit of KamAZ reached 247.8m rubles ($7.93m) in the first quarter of 2002 versus the losses of 192.1m rubles (about $6.15m at the current exchange rate) in the corresponding period last year. The volume of repaid profit taxes reached 200m rubles ($6.4m), which was 2.3-fold more than in the first quarter of 2001.

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