MOSCOW, August 18 9RIA Novosti) - Russian regional power generating company TGK-13 said on Monday its net loss calculated to Russian Accounting Standards increased 460% year-on-year in January-July 2008 to 1.44 billion rubles ($59 million).
TGK-13, which is based in East Siberia, said its net loss increased in the reporting period as the market value of shares in the Krasnoyarsk hydropower plant were not taken into account in the second quarter.
"During the reporting period, the stocks of the Krasnoyarsk HPP fell considerably to affect the company's financial performance," TGK-13 said.
TGK-13 earlier reported its electric power output increased by an annualized 42.5% in January-June 2008 to 7.12 billion kW/hr.
