Net profit of JSC Mosenergo in 1 quarter of 2009 under IFRS grew to 4.7 billion rubles, compared with net profit of 2.1 billion rubles in 2008, said the company. Thus, the net profit Mosenergo increased by 117%.

the company's revenues for the period increased by 22% to 37.903 billion rubles. Increased revenues associated with the increase in the useful heat, and leave the growth rate holiday for electrical and thermal energy, said the company.

3 months of 2009 power Mosenergo reached 18 996.5 million kWh of electricity, which is 611.2 million kWh (3.1%) lower than during the same period of 2008. The decline is due to falling overall demand for electricity, the report says the company.

Holiday heat from the collectors during the reporting period amounted to 28 037 thousand Gcal, which was higher than the rate for 3 months in 2008 to 1 324 thousand Gcal (5.0%). Increased due to increased consumption of thermal energy due to the lower outside air temperature during the heating season.

Operating expenses amounted to 31.696 billion rubles, which is 13% higher than that of 2008.

The rate of growth of operating expenses below revenue growth, primarily due to the slow rate of growth of expenditure on fuel by 5% compared to same period last year. Effective control of other operating costs led to growth in profit from operations by 109% from the previous year, said Mosenergo.

In the 1 st quarter of 2009 the volume of credits and loans society has not changed, but a significant increase in the loan portfolio for the 12 months ended 31.03.2009, due to an increase in interest expense of society. Long-term loans and zaymv was 10.2 billion rubles, short-term liabilities - 26.3 billion rubles.

In general, working capital, the company grew by 98% due to faster growth in receivables. The growth of current accounts receivable at the end of 1 quarter of 2009 occurred against a background of reducing the collection of receivables on contracts implementation of electricity and heat, said Mosenergo.
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