MOSCOW, May 6 (RIA Novosti) - UTair, Russia's largest helicopter carrier, said on Tuesday that its net profit calculated to Russian Accounting Standards (RAS) grew 70% to 438 million rubles ($18.4 million) year-on-year in 2007.

The company, based in the Khanty-Mansi autonomous area in the northwest Urals, said it had expected a net profit of 270 million rubles ($11.4 million). In 2006 UTair's net profit stood at 263.9 million rubles ($11 million).

The air carrier made a loss of 27 million rubles ($1 million) in the first three months of 2008.

UTair provides air transportation services in Russia and is ranked the world's fourth helicopter business. Last year the company transported 2.9 million passengers, up 21% against 2006. Its cargo volumes increased 31.3% year-on-year to 81,545 metric tons in 2007.