SHANGHAI, May 14 (SMM) – Rusal posted a net profit of $228 million in Q1 2015, a reversal from $246 million loss for the same period last year, it said in its earnings report filed to the Hong Kong Stock Exchange.
Rusal attributes the positive earnings report to higher LME aluminum prices and cost control. Aluminum cost fell 17.5% from a year ago to $1,437/tonne, it said.
Its revenues rose 16.7% from a year ago to $2.48 billion in Q1.
The global aluminum giant produced 900,000 tonnes of primary aluminum in Q1, down 1.6% quarter-on-quarter (QoQ), but up 1.9% year-on-year (YoY), as well as 1.81 million tonnes of alumina, down 0.6% QoQ, but up 0.3% YoY.
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