MOSCOW, July 30. /TASS/. Net profit of Novolipetsk Steel (NLMK) under International Financial Reporting Standards (IFRS) for January-June 2026 slumped 45.6% year-on-year to 20.5 billion rubles ($256 mln) down from 44.9 billion rubles ($562 mln), the Russian steelmaker said in its financial report.

In the reporting period, the company’s revenue fell 11.6% to 387.7 billion rubles ($4.8 bln), while gross profit dropped 19.7% to 110.3 billion ($1.4 bln).

Cost of sales decreased 8% to 277.4 billion rubles ($3.4 bln). Profit before tax plummeted 54.8% to 27.3 billion rubles ($341 mln).

NLMK Group is a vertically integrated steelmaker and one of Russia's largest steel producers, with production assets located in Russia, Europe, and the US. Vladimir Lisin remains the primary shareholder, controlling a 79.3% stake through Fletcher Group Holdings Limited, while the remaining 20.7% is in free float.