Novolipetsk Iron & Steel Works (NLMK) declared recently that the enterprise’s net profit had gone down by 6.21 billion RUR, or 16.8%, in the third quarter of 2008 compared with the figures for the second quarter of the year.

The company believes this drop has to do with the 13.6-billion-ruble decrease in the dividends obtained from NLMK’s daughter enterprises.