Russian state conglomerate Rostec, the country's largest industrial holding company, said its net profit fell 42% last year despite higher revenue, underscoring mounting financial pressure on one of the Kremlin's key defense and manufacturing groups as the war in Ukraine and Western sanctions continue to reshape the economy.

The Russian Prime Minister stressed that achievements in high-tech industries have a direct impact not only on industry and digitalization, but also on the country's overall…

Russian state conglomerate Rostec, the country's largest industrial holding company, said its net profit fell 42% last year despite higher revenue, underscoring mounting financial…