Russia's Norilsk Nickel (Nornickel), the largest refined nickel and palladium producer in the world, increased its consolidated revenue by 11 percent in the first half of 2017 year-on-year to $4.2 billion, the company said on Tuesday.
Nornickel said its revenue increased primarily owing to higher realized metal prices.
However, the company's earnings before interest, tax decreased by 3 percent year-on-year to $1.7 billion, primarily over the Russian ruble's appreciation against the U.S. dollar and an increase in expenses.
"In the first half of 2017, the company delivered solid financial results despite volatile commodity markets and unfavorable movement in exchange rates," the President of Nornickel, Vladimir Potanin, said.
Potanin said the company stayed on track with the implementation of its capital investment program.
By Murat Temizer