MOSCOW, May 5. /TASS/. Net profit of LG Electronics from operations in Russia plummeted by 19 times in 2022, according to accounting statements of its local legal entity.

South Korea’s LG suspended all supplies to Russia in March 2022.

Net profit of the company fell by 7.1 bln rubles ($92 mln) in 2021 to 376 mln rubles ($4.9 mln). Revenues of the corporation contracted by almost two times from 120 bln rubles ($1.6 bln) in 2021 to 55.4 bln rubles ($719.2 mln) last year.

Profit from sales plummeted in 2022 by almost six times to 1.5 bln rubles ($19.5 mln).