Russian diamond firm Alrosa posts 1,650% q-o-q net profit rise

MOSCOW, April 15 (RIA Novosti) - Russia's largest diamond miner Alrosa said on Wednesday its net profit calculated to Russian Accounting Standards increased 1,650% quarter-on-quarter in January-March of 2009 to 1.86 billion rubles ($55.7 million).

In the fourth quarter, Alrosa posted a net profit of 112.6 million rubles ($3.4 million).

Alrosa accounts for 97% of Russian and 25% of global diamond output. The Russian government holds a 50.9% stake in the company.