September 26, 2012 / 11:22 AM / in 5 years

Russia's MRSK H1 net profit falls 40 pct

MOSCOW, Sept 26 (Reuters) - Russian state grid holding company MRSK said on Wednesday its first-half year net profit fell by 40 percent, year-on-year, to 15.6 billion roubles ($504.04 million) on the back of lower revenues.

Revenues declined 6 percent in the same period to stand at 302.7 billion roubles, MRSK said in a statement, hit by a cap on household electricity bills ahead of recent elections. Its operating costs were down 2.6 percent to 278.1 billion roubles. ($1 = 30.9502 Russian roubles) (Reporting by Anastasia Lyrchikova; Writing by Maria Kiselyova; Editing by Alexei Anishchuk)

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