Releasing its IFRS results for Q1 2017, PJSC ALROSA said that revenue during the three month period totalled RUB 84.8 bn, a rise of 38% over Q4 2016, but a decline of 17% as compared to Q1 of the previous year.

The Company reported EBITDA of RUB 35.2 bn, and said that the EBITDA margin was 42%, while net income totalled RUB 22.7 bn.

ALROSA said that free cash flow totalled RUB 34.6 bn up 4.7 times q-o-q and down 42% y-o-y.

Sergey Ivanov, Chief Executive Officer of PJSC ALROSA, said, “In Q1 2017, we delivered better results compared to late 2016, due to the recovery of demand from Indian rough diamond consumers after a temporary decline caused by the monetary reform. The Company’s margins were affected by the rouble appreciation. But what I would like to emphasize here is the success of our cost control programme, which ensured a minimum increase in our production costs.”