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Russia’s State Transport Leasing Company Sees 9M 2024 Net Profit Drop Amid Revenue Surge

ByAdmin

The State Transport Leasing Company (STLC) of Russia reported a sharp decline in net profit for the first nine months of 2024, despite significant revenue growth. According to the company’s latest financial statement, net profit dropped by 2,750%, amounting to just $4.5 million, a steep fall from previous periods. However, revenue increased by an impressive 230% year-on-year, totaling $1 billion. This paradoxical performance reflects the complex dynamics facing STLC, balancing high growth in leasing revenues with substantial increases in operational and financing costs.

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