Moscow, Dec 1 - X5 Retail Group, Russia's largest food retailer by revenue, reported on Monday a net loss of $14.7 million for the third quarter of 2008 due to a foreign exchange loss stemming from a depreciation of the rouble.
The company said the forex loss amounted to $85 million, resulting from revaluation of its $1.1 billion syndicated loan.
In the third quarter of 2007, the company had a net profit of $17.8 million.