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AvtoVAZ posted a 2 billion ruble ($70 million) net profit to Russian Accounting Standards in the first half of 2011, after a 724 million ruble loss in the same period last year, AvtoVAZ said on Thursday.
The company's first-half revenues rose 41 percent to 82.865 billion rubles, up from 58.762 billion rubles the year before, AvtoVAZ said in a statement.
The car maker's gross profit in the first six months of the year soared almost 200 percent to 12.197 billion rubles up from a 4.165 billion ruble gross profit in the same period last year.
Author: Irina Fomina
