MOSCOW, November 14 (RIA Novosti) - AvtoVAZ, Russia's largest carmaker, said Friday its net profit calculated to Russian Accounting Standards fell in January-September 2008 by 89% year-on-year to 834 million rubles ($30.5 million).
Company earnings grew 15.5% for the same period to 126 billion rubles ($4.6 billion) and gross profit decreased 33% to 8.73 billion rubles ($319 million).
In the first half of 2008, AvtoVAZ reported RAS net profit at 1.48 billion ($54.1 million).
In March, a deal was closed to sell AvtoVAZ's blocking stake to Renault-Nissan for $1 billion.
