The net profit of Novolipetsk Iron & Steel Works (NLMK) went down by 25.2% in the first quarter of 2008 compared to the last quarter of 2007. The profit dropped from 9,918,000,000 RUR in October-December 2007 to 7,417,200,000 RUR in January-March 2008 due to the new delivery and proprietorship terms of slabs and rolled products.