Local enterprises (excluding banks, insurance companies, agricultural and entities that receive financing from the budget) posted net profit of RUB 6 .38tn ( USD 184.6bn ) in Jan- Nov 2013 , down by 15.6% y/y, data by RosStat shows. In November alone, corporate profit of RUB 603.2bn was seen, which made 0.8% m/m increase and 15.2% y/y decline. Corporate profit shows consistent monthly double-digit y/y decline rate since January 2013 , following sloppy growth seen in 2012. Since September 2013 the decline rate is stable at 15.5% y/y. To compare, the indicator went up by 33% y/y in H1/11, by 20% y/y in 2011, and by 9.9% y/y in 2012 overall to RUB 7 .717tn. In Q1/13 aggregate corporate net profit dived by 29% y/y and went down by 15.4% y/y in Q2/13. In Q3/13 the decline somewhat moderated to -5.8% y/y. In Jan-Nov, y/y decline of aggregate profit was still due to 30.5% y/y slump in profit of processing enterprises to RUB 1 .44tn and 8.3% y/y decrease in aggregate net profit of wholesale and retail traders to RUB 1 .71tn. At the same time the decline rate of profit in extraction somewhat moderated to 2.7% y/y, extraction profit amounting to RUB 1 .61tn in Jan-Nov. In 2012, processing profit growth was at 12.5% y/y, extraction profit declined by 1.6% y/y. Profit of retail and wholesale trade, which was the best performer since fall 2011 declined by 10.2% y/y in 2012. Transport and communication saw 21.6% y/y decline in aggregate net profit in Jan-Nov to RUB 730bn . Construction profit was down by 31.6% y/y to RUB 86.5bn , while agriculture saw a 41% y/y profit dive to RUB 78.2bn . In Jan-Nov, 42,000 enterprises earned profits worth RUB 7 .68tn; 16,900 entities suffered losses, which amounted to RUB 1 .3tn. The share of profitable entities declined by 2.3ppt y/y to 71.4%.
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