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Alrosa Q3 Profits Shrink 4%

By The Moscow Times

State-owned diamond mining group Alrosa said Thursday third-quarter net profit fell 4 percent to 8.3 billion rubles ($250 million) mainly due to lower foreign currency gains.

The firm, which raised $1.3 billion in a share sale in October, said revenue for the quarter rose 41 percent to 39.1 billion rubles, while adjusted earnings before interest, tax, depreciation and amortization, or EBITDA, stood at 16 billion rubles, up 26 percent.

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