MOSCOW, May 15 (RIA Novosti) - Rail monopoly Russian Railways said on Thursday its net profit calculated to Russian Accounting Standards (RAS) trebled year-on-year to 84.5 billion rubles ($3.5 billion) in 2007.
The company's revenue reached 975.6 billion rubles ($41 billion) last year, up 15% against 2006.
Russian Railways posted a 1.5% year-on-year net profit decline to 19.7 billion rubles ($826 million) in the first quarter of 2008.
The monopoly expects its revenue to exceed 1 trillion rubles ($42 billion) in 2008.
TransTeleCom, a 100%-owned subsidiary of Russian Railways, posted a 17% increase in consolidated net profit calculated to International Financial Reporting Standards (IFRS) year-on-year to 2.5 billion rubles ($106.5 million) last year.
