ChelPipe, the Russian pipemaker controlled by Andrey Komarov, said profit fell 90 percent last year as OAO Gazprom cut large-diameter pipe purchases and costs rose.
Net income was 496 million rubles ($15 million) compared with 4.78 billion rubles a year earlier, ChelPipe said in a statement on its website. Revenue rose 33 percent to 114 billion rubles.
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