Ukrenergo halves net loss in Q1 2016

National energy company Ukrenergo halved its net loss in January through March 2016 year-over-year, to UAH 910.2 million.

The company said in a financial report that net revenue in Q1 2016 increased by 18.4%, to UAH 871.992 million and gross profit – by 37.9%, to UAH 395.841 million.

Ukrenergo in 2015 saw a net profit of UAH 820.396 million against UAH 1.199 billion of net loss in 2014.

Ukrenergo operates Ukraine's backbone and interstate power grid and supervises the country's national grid. It is a state-owned company and is controlled by the Ukrainian Energy and Coal Industry Ministry.