ALROSA falls 15% in profits and rises 9% in revenue.

The Russian diamond company's profits decreased by 15.2% in 2023 to 85.182 billion rubles, around 928.5 million US dollars, equivalent to more than 772 billion kwanzas, according to a company financial report , cited by Rough & Polished.

The group had a decrease in pre-tax profits of 14%, to 108.195 billion rubles (981 billion Kz). However, the diamond company's revenues rose to 322.567 billion rubles, the equivalent of 2 billion and 926 billion Kz, an increase of 9.2% compared to the previous year.

According to the same document, ALROSA's cash reserves amounted to 181.804 billion rubles (1 billion 649 billion Kz) at the end of 2023. And in the same period, the company paid an unexpected tax of around 1, 5 billion rubles.

In November, the mining company had a positive balance by producing 34.6 carats of diamonds, having added, in terms of value, reserves amounting to 84.268 billion rubles, close to 928.5 million dollars, around 764 billion of kwanzas, compared to 52.459 billion rubles (475 billion Kz) the previous year.

In this regard, in these consolidated financial statements the amount of this tax in the amount of 1,487 million rubles is disclosed, reflected as part of income tax expenses.