Interfax reported that Tbilisi-based power distribution company JSC Telasi which is controlled by Russian energy company Inter RAO UES generated net profit of GEL 11.8 million in the first half of 2012 or 33.3% less than in the same period of last year.

Sales revenue grew 1.8%YoY to GEL 130 million while revenue from operating activities plummeted 61% to GEL 8.3 million. Telasi purchased GEL 75.3 million worth of electricity in January to June 2012 and it sold GEL 125.9 million worth.

Assets were down 2.4% over the beginning of the year to GEL 254.2 million. Charter capital edged up 0.1% to GEL 81.2 million.

Last year, Telasi saw its net profit drop 36.2% to GEL 30.1 million.

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