Russian tech company VK posted quarterly profit for first time in over three years
Russia’s VK holding company posted a net profit of 328 million rubles for the second quarter of 2026, the company said in a press release. It was VK’s first profitable quarter since the end of 2022, according to the Russian business daily Vedomosti.
Russian tech company VK Holding reported a net profit of 328 million rubles for the second quarter of 2026, marking its first profitable quarter in over three years, according to a press release. This comes after the company recorded a loss of 3.85 billion rubles in the first half of 2026, more than three times smaller than the previous year's loss.
Analysts attribute VK's profit to the sale of its 25% stake in Tochka bank, which was bought by Vladimir Potanin’s Interros for 21.2 billion rubles in April. The deal reportedly generated 3.53 billion rubles for VK, with 3.5 billion used to cover losses, while the remaining profit was recorded. VK attributed the growth in revenue to improved operational efficiency and reduced costs.
A VK spokesperson stated that the impact of the deal was "insignificant," emphasizing that VK's improved performance was due to efficiency gains and cost reductions.
Written by urgent.news from Meduza (English)'s reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
