April 26 (Reuters) - Russia's biggest car maker Avtovaz
returned to profit in the first quarter, on the back
of stellar sales of its Lada models, but warned currency
fluctuations might impact results for rest of the year.
Avtovaz said it made a net profit of 609 million roubles
($9.70 million) in the first three months of the year, reversing
losses of 2.81 billion roubles for the same period last year.
The car maker's revenue soared 40 percent to 64.8 billion
roubles in the quarter as Lada sales rose 28.8 percent. Three of
Lada models, Vesta, Granta and Largus entered the top-10 list
bestsellers in Russia, Avtovaz said.
"Significant forex fluctuations in the beginning of April
2018 might negatively impact the Russian automotive market and
Avtovaz financial results later this year", Avtovaz president
Nicolas Maure said.
Russian markets were hit hard in early April as investors
reacted to a new round of U.S. sanctions targeting some of the
country's biggest tycoons.
($1 = 62.8020 roubles)
(Reporting by Anna Pruchnicka; Editing by Jon Boyle)
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