Russian diamond producer Alrosa has posted its net profits for the 2009 fiscal year, saying it totaled 3.46 billion roubles.

According to RT.com, the diamond company's results marked a sharp turnaround from a the FY 2008 net loss of 32.77 billion roubles, as pre-tax profits jumped to 6.66 billion roubles, from losses of 36 billion roubles a year earlier; despite sales revenue falling 14.4% year on year to 77.95 billion roubles from 91.08 billion roubles in FY 2008.

An Alrosa statement said that as of the end of 2009, its current liabilities exceeded its current assets by 56.66 million roubles – mostly due to credits and borrowings; however, the Group’s management is "optimistic about the future and is sure that both better economic environment in world diamond markets in 2010, and cost optimization will help Alrosa to generate profit and positive cash flow – enough to significantly reduce its debt burden by the end of 2010."