Russian wholesale power generating company Enel OGK-5 increased its first half IFRS net profit 15 percent year-on-year to 2.77 billion rubles ($100 million), the utility said on Tuesday.
The company's operating revenue increased 21 percent in the first six months of 2011 to 29.68 billion rubles.
"The growth is mainly attributable to the increase of power prices on the free market," Enel said in a statement.
EBITDA amounted to 6.14 billion rubles, a 15 percent year-on-year increase, due to an increase in fuel spreads on power sales.
Net debt stood at 20.230 billion rubles at the end of the first half of 2011.
Net power output in January-June this year totaled 20,668 GWh and was unchanged from the same period in 2010.
Power sales grew 3 percent to 23,286 GWh.
"The share of non-regulated sales on total sales increased to 84 percent from 61 percent in the first half of 2010 as a result of the liberalization of the Russian power market," the company said.
