MOSCOW, March 18. /TASS/. Adjusted net profit of Sovcomflot under International Financial Reporting Standards (IFRS) surged 4.1-fold in 2023 compared with 2022 to 83.5 bln rubles ($908 mln), the company reported.

"In the reporting period the company demonstrated strong financial results due to stable revenues amid its present portfolio of long-term contracts, as well as the operation of fleet amid high market environment," the report said.

Profit totaled 79.55 bln rubles ($865 mln). Earnings per share equaled 35.17 rubles.

Revenue increased by 22.6% in the reporting period to $2.3 bln, while operating profit doubled to $1.16 bln.