Russian diamond producer Alrosa on Friday announced a net profit of 36.2 billion roubles ($468.33 million) for the latest period, marking an 88.3% year-on-year increase. The company’s revenue declined slightly by 1.7% to 235.1 billion roubles.

The strong profit recovery comes after a challenging 2024, when Alrosa suffered a 77.3% slump in net profit following G7 sanctions that banned direct imports of Russian diamonds. Despite ongoing international restrictions, the company managed to stabilize operations and achieve a significant rebound in profitability.