MOSCOW, May 2. /TASS/. Net loss of RosGeo under International Financial Reporting Standards (IFRS) amounted to 5.778 bln rubles ($63 mln) in 2023 compared with 559 mln rubles ($6 mln at the current exchange rate) worth of profit in the previous year, the holding reported.

Operating loss totaled 4.481 bln rubles ($48 mln) compared with profit worth 3.553 bln rubles ($38 mln) in 2022.

Revenue fell by 3% to 25.015 bln rubles ($272 mln). Meanwhile the holding’s three biggest clients registered in Russia accounted for more than half of revenue.

RosGeo is the largest geological holding in the Russian Federation that performs all types of geological prospecting and exploration activities. RosGeo is a fully state-owned company.