Net profit at Russia’s second largest car and truck maker GAZ rose 70.46% quarter on quarter to 2.307bn rubles in October-December, the company said, without providing the accounting standards used.
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GAZ attributed the increase in net profit to revenue received from subsidiary and affiliated companies, Prime-Tass reported.
GAZ is the umbrella of GAZ Group, which also includes Pavlovsky Avtobus, or PAZ, Golitsyno Bus Plant, or GolAZ, Kanashsky auto plant, Saransk Dump Truck Plant, Likino Bus Plant, or LiAZ, and Kurgan Bus Plant, or KAVZ, the report added.
