Court extends bankruptcy administration for Bryansk heat supply company
On January 13, the commercial court of Bryansk region ruled to extend the period of bankruptcy administration for Bryansk heat supply company LLC for 3 months until April 11, 2015, JSC Quadra - Power Generation informed.
The court session to consider another prolongation or completion of bankruptcy proceedings is scheduled for April 9.
It will be recalled that in October 2013, Bryansk heat supply company LLC filed a bankruptcy petition to the court.
Bryansk heat supply company LLC is a wholly owned subsidiary of JSC Quadra - Power Generation.
JSC Quadra – Power Generation (TGC-4 before May 2010, tax number: 6829012680) was registered on April 20, 2005. Its authorized capital is RUB 19.878 billion represented by 1,912,505,577,759 common and 75,272,938,838 preferred shares at par value of RUB 0.01. Joule Energy Limited (Riga) holds 49.9% of the company's voting shares.
The company is active in 11 regions of the Central Federal District: Belgorod, Bryansk, Voronezh, Kaluga, Kursk, Lipetsk, Oryol, Ryazan, Smolensk, Tambov, Tula regions.
IFRS net loss of JSC Quadra – Power Generation for H1 2014 was RUB 240.477 million against a profit of RUB 88.223 million the year before. Revenue increased by 5% to RUB 24.167 billion from RUB 23.017 billion, profit from operations decreased 4.66 times to RUB 113.236 million from RUB 527.926 million, loss before tax was RUB 244.042 million against a profit of RUB 198.136 million for the same period in 2013.
According to AK&M Information Agency's DataCapital information retrieval system, RAS net loss of JSC Quadra - Power Generation for 9 months 2014 decreased 2.9 times to RUB 448.208 million from RUB 1.3 billion for the same period in 2013. Revenue increased by 3.6% to RUB 28.362 billion from RUB 27.375 billion, sales profit by 20.56% to RUB 797.722 million from RUB 661.705 million, loss before tax decreased 3.5-fold to RUB 420.366 million from RUB 1.471 billion.
