Kyivenergo reduces net loss by almost 30% in nine mths
Kyivenergo energy generating company, which supplies electricity and heat to households in the Ukrainian capital, reported a net loss of UAH 999.7 million (US$37.3 million) in January-September 2017, which was 29.7% down year-over-year (y-o-y), according to a company announcement in the National Securities and Stock Market Commission's information disclosure system.
Kyivenergo's net revenue from product sales over the period under review rose by 22.6%, to UAH 17.651 billion ($657.9 million), while the gross loss grew by 31.6%, to UAH 1.02 billion ($38 million), the company said in a statement.
Read alsoUkraine's property fund sells 25% stake in Kyivenergo As UNIAN reported earlier, Kyivenergo received UAH 2.58 million in net profit in 2016, while the company reported a net loss of UAH 1.695 billion in 2015.
Kyivenergo generates and supplies thermal and electric energy in the city of Kyiv. It is a part of DTEK's largest private energy holding.