Russian mining giant Alrosa has reported results for the first quarter of the year. According to IDEX Online, there was a 38% rise in revenue to RUB 84.8 billion ($1.5 billion) over the previous quarter. Year-on-year, however, the figure was down 17%. Alrosa’s net income totaled RUB 22.7 billion ($400 million).
CEO Sergey Ivanov commented: “In Q1 2017, we delivered better results compared to late 2016, due to the recovery of demand from Indian rough diamond consumers after a temporary decline caused by the monetary reform.
“The company’s margins were affected by the rouble appreciation”, added Ivanov, “But what I would like to emphasize here is the success of our cost control program, which ensured a minimum increase in our production costs”.
