MOSCOW, August 8 (RIA Novosti) - Wholesale generating company WGC-3 said Wednesday its net income calculated to International Financial Reporting Standards (IFRS) increased 390%, year-on-year, in 2006 to 4.4 billion rubles (about $173 million).
WGC-3, in which metals giant Norilsk Nickel holds a 53.8% stake, attributed its net income growth to the reversal of the 6.4 billion ruble ($251 million) impairment loss.
WGC-3, formerly controlled by Russian electricity monopoly Unified Energy System (UES), was registered in November 2004. The company has an installed capacity of 8,497 MW.
