Novolipetsk Steel (NLMK), one of Russia's largest metallurgy companies, posted a US GAAP consolidated net loss of $79 million in the first nine months of 2009, the company said.
NLMK had a net profit of $2.76 billion in the same period last year.
NLMK said the $79 million loss was due to recognition of its share in the losses of Steel Invest & Finance S.A., a joint venture, which constituted $344 million.
The company's earnings in 9M09 declined by 55% to $4.33 billion.
EBITDA in the first nine months of 2009 was $917 million, 77% less than in the same period 2008.
MOSCOW, December 7 (RIA Novosti)
