Russian Railways (RZD) posted net profit under Russian accounting standards (RAS) of 19.7
billion rubles in the first quarter of 2008, down slightly from the first three months of 2007, the company said in a statement according to Interfax.
The reduction in net profit can be attributed to an increase in spending, the company said. Sales revenue grew 14.9% to 269.682 billion rubles in the quarter.