Downturn for Alrosa's Biggest Diamond Subsidiary

Mirroring the half-year results of its parent company, OAO Alrosa-Nyurba's net profits for the first six months of the 2013 calendar year were markedly less than the same statistics for the first six months of the previous year, Rough and Polished reports.

A week after it was revealed that Russian state-owned diamond company Alrosa secured a net profit of $460 million in H1, which amounted to a year-over-year drop of 3.9%, the firm's largest subsidiary OAO Alrosa-Nyurba announced that its net profit during the same period was $134 million, a year-over-year decrease of 7.6%.

Nyurba's revenues between January and June 2013 actually rose significantly by over 17% to hit $443 million, but this improvement was offset by a massive 60% increase in its cost of sales, which reached $185 million, according to Rough and Polished.

OAO Alrosa-Nyurba's stones are mined at the Botuobinskaya and Nyurbinskaya diamond pipes in the Nakyn kimberlite field, in Yakutia's Nyurbinsky region.

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