MOSCOW, May 2 (RIA Novosti) - Severstal [RTS: CHMF], a leading Russian steel maker, said Wednesday its net income computed to Russian Accounting Standards (RAS) increased 64.6%, year-on-year, in the first quarter of 2007, to 9.34 billion rubles (about $362 million).
At the same time, Russia's second largest steel producer said its Q1 net income declined 19.6% compared to the fourth quarter of 2006 due to lower operating profits in January-March 2007.
