Revenue decreased by 5 per cent to RUB179.47 billion ($AUD2.96 billion) for the six-month period, highlighted by the slowing of the global market and the impact of Western sanctions.
Profit declined by 34 per cent. While a statement from the company did not outline reasons for the weakened results, it did suggest that markets are volatile and sanctions are generating pressure.
"In 2023 and further during the six months of 2024, the geopolitical situation in the region remained tense as a result of the further development of the situation with Ukraine, which remains extremely unstable," the statement reads.
"Despite the fact that additional and expanded sanctions and restrictions were subsequently imposed on the business activity of companies operating in the Russian Federation is not excluded, active measures taken by the government and the Central Bank of the Russian Federation, as well as representatives of the business community, managed to minimise the negative consequences for the Russian economy as a whole."
For the second quarter, Alrosa’s sales declined by 34 per cent on a year-on-year comparison, with profit declining by 73 per cent.
This announcement follows De Beers Group’s decision to cancel a scheduled sale, which was attributed to adverse market conditions.
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