Net profit of Russia's largest car maker AvtoVAZ doubled to 6.4 billion rubles ($210 million) in the first half of 2011 to International Financial Reporting Standards (IFRS), it said on Tuesday.
"The group's financial result was formed with AvtoVAZ's 2.1-billion-ruble profit to Russian Accounting Standards, 400-million-ruble operating profit of the group's subsidiaries and adjustments envisaged by IFRS requirements totaling 3.9 billion rubles," the car maker said in a statement.
The group's revenues in the first six months of 2011 hit 82.2 billion rubles compared to 59 billion rubles in the same period of 2010.
