Russian automaker posts financial results

The Moscow automaker ZIL's net loss increased by 9.3 percent in the first quarter of 2003 against the same period of 2002 and amounted to nearly RUR318.26m (about $10.36m). ZIL's earnings came to some RUR814.39m ($26.52m) in the first quarter of 2003 against RUR773.43m ($25.19m) in the same period of 2002. The company's product cost was RUR1.33bn ($43.3m) against 976.79m ($31.81m) in the first three months of 2002. In the first quarter of 2003, the automaker's accounts payable grew from RUR6.29bn ($204.83m) to RUR6.6bn ($214.92m).