Net income of state monopoly Russian Railways (JSC RZD) to Russian Accounting Standards (RAS) in the first half of this year fell 17.1 percent from a year earlier, to RUB 48 504 000 000, RZD statistics said.
Revenue for the period increased by 10.8 percent to 644 707 000 000 rubles.
JSC RZD was established by Russian Government on Sept. 18, 2003 in pursuit of further reforms of the country’s railway industry. Currently, the Company operates over 86,000 km (53,000 mi) of common carrier routes as well as a few hundred kilometers of industrial routes, making it the second largest network in the world next to the United States.
RZD, which employs over 1 million people, is one of the largest companies in the world. The cargo volume carried by Russian Railways accounts for 43 percent of Russia’s total freight traffic (including pipelines) and more than 41% of passenger traffic.