ALROSA's revenue rose 41 percent year on year to $1.2 billion (RUB 39.15 billion) in the third quarter of 2013. Growth was driven by a higher volume of sales of gem-quality diamonds during the period. However, profit declined 4 percent to $251.4 million (RUB 8.32 billion) mainly as a result of reduced foreign exchange-rate gains.

The volume of sales grew 57 percent to 8 million carats. Gem-quality diamond sales rose by 59 percent to 5.4 million carats, while industrial diamond sales rose 37 percent to 2.6 million carats.

ALROSA reported that the average price of its gem-quality diamonds sold during the period rose by 1 percent to $213.50 per carat. Compared with the second quarter, however, rough prices fell 3 percent.

Group revenue during the first nine months increased 16 percent year on year to $3.7 billion (RUB 121.38 billion). However, profit fell 8 percent to $693.2 million (RUB 22.94 billion) as a result of foreign exchange-rate losses and higher interest rate expenses, the company explained. Cost of sales increased 27 percent to $1.81 billion (RUB 59.77 billion). ALROSA ended the period having decreased its cash position in the nine months to $220.6 million (RUB 7.3 billion).

Diamond sales to Belgium rose 31 percent to $1.7 billion (RUB 57.23 billion), while local sales to the Russian Federation fell 12 percent to $877.3 million (RUB 29.03 billion). Sales to India grew 10 percent to $493.5 million (RUB 16.33 billion) and sales to Israel jumped 52 percent to $324.9 million (RUB 10.75 billion).

Following its public offering on October 28 on the Moscow Stock Exchange, the government owns 44 percent of ALROSA, the Yakutia Republic owns 25 percent and the Yakutia municipalities hold 8 percent of the mining giant.

New ALROSA shareholders, who collectively own 23 percent of ALROSA, include 6 percent ownership through hedge funds, less than 1 percent owned by wealth management firms and 94 percent owned by long-term investors. Around 61 percent of the new shareholders are located in the U.S., 20 percent reside in the U.K., 14 percent in the Russian Federation, 4 percent across Europe and less than 1 percent elsewhere.

Additionally, the Russian Federation and the Yakutia Republic signed a shareholder’s agreement to jointly hold 50 percent plus 2 shares of the company until 2018.