The net loss at AvtoVAZ widened to RUB3.7bn in January–June from about RUB470m in the same period of last year, the company said.

Revenue decreased by 3.8% to RUB81.4bn, Prime News reported.

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Gross profit fell by 42% to RUB4.76bn. AvtoVAZ posted a RUB1.928bn sales loss in January–June against a RUB1.212bn sales profit in January–June 2012.

Sales shrank by 6.7% to 264,200 cars.

Long-term liabilities increased to RUB82.958bn as of 30 June from RUB76.125bn as of 1 January, while short-term liabilities decreased to RUB32.452bn from RUB35.289bn.

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