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Russia's defense industry

Net profit of Rostec up 54% in 2023 to $695 mln

Last year’s investment reached 527 bln rubles ($6 bln), with growth mainly due to increasing state defense order and expansion of production capacity, the files read

MOSCOW, July 30. /TASS/. Net profit of Rostec grew by 54% in 2023 compared with 2022 to 60.1 bln rubles ($695 mln), according to files for the meeting between Chief Executive Officer of the state corporation Sergey Chemezov and Russian President Vladimir Putin.

"Despite exit of foreign partners and sanctions-related restrictions, Rostec demonstrates production efficiency and remains economically resilient. <…> Net profit increased by 54% to 60.1 bln rubles," the files read.

Last year’s investment reached 527 bln rubles ($6 bln), with growth mainly due to increasing state defense order and expansion of production capacity, according to files.

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Russian defense industry

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