MOSCOW, January 29 (RIA Novosti) - TVEL, Russia's leading producer and supplier of nuclear fuel for power plants, said Monday its net profit in 2006 increased 10% on the previous year, exceeding $124 million.

"We will be able to determine the exact amount of the [2006] net profit in February-March 2007, after the company's board of directors approves the financial results for the year," said Anton Badenkov, the company's acting president.

The company reported last June a sharp fall in 2005 net profit, from 4.58 billion rubles (about $170 million) to 3.09 billion rubles (about $123 million).

The TVEL Corporation comprises large Russian enterprises involved in natural uranium mining, and rendering services in manufacture, supply and scientific and engineering support for nuclear fuel operation at nuclear power plants in Russia, the CIS and foreign countries.