MOSCOW, March 12. /TASS/. Shares of retailer M.Video on the Moscow Exchange fell by over 2.5% on Monday following the publication of the M.Video-Eldorado group’s IFRS financial statements for 2023.

As of 10:00 Moscow time, the company's shares fell by 2.65% to 213 rubles ($2.35) per share. By 10:21 Moscow time, the company's shares were trading at 215.8 rubles ($2.38) per share (-1.37%).

M.Video-Eldorado group, which unites two Russian retail chains of household appliances and electronics, in 2023 reduced its net loss under IFRS by 30.7% year-on-year to 5.2 bln rubles ($57.36 mln) (under IFRS 17), the company said. At the same time, the retailer returned to net profit in the Q4. According to the statement, in the Q4, the company received a net profit of 1.6 bln rubles ($17.65 mln) compared to a 0.9 bln ruble ($9.93 mln) loss for the same period a year earlier.