Togliattiazot faces almost $7 million of net loss
During the January-September period of this year, the revenue of the Togliattiazot plant (Samara region) fell by 8% to 37.751 billion rubles (approximately $495.7 million). Net profit the company didn’t see at all, however, it incurred a loss of 528.727 million rubles (approx. $6.9 million) instead. In the same period of 2019, Togliattiazot gained a net profit of 3.828 billion rubles (about $50 million).
According to the financial statements of the enterprise, the long-term obligations of Togliattiazot amounted to 14.273 billion rubles (approx. $187.4 million), short-term 9.816 billion rubles (approx. $128.9 million).
Togliattiazot produces nitrogen fertilizers. It includes seven ammonia production units and two units for the production of carbamide and the third one is currently under construction.
In the first half time of 2020, Togliattiazot produced 1.515 million tons of ammonia and almost 493 thousand tons of carbamide.