Russia's state-owned diamond monopoly Alrosa posted a 420 percent year-on-year jump in its IFRS first half net profit to 26.267 billion rubles ($855 million), the firm said on Tuesday.

The company's sales in the first six months of 2011 increased 2.7 percent year-on-year to 66.147 billion rubles, with Belgium accounting for 28.7 billion rubles in sales, Russia accounting for 21.676 billion rubles, while India and Israel accounting for 6.580 billion rubles and 4.629 billion rubles respectively, Alrosa said in a statement.

Alrosa's long-term loans as of June 30, 2011, totaled 68.759 billion rubles, down from 89.021 billion rubles as of December 31, 2010.

The company's short-term loans grew 140 percent from the start of the year to 30.543 billion rubles as of June 30 compared to 12.944 billion rubles as of the end of 2010.

Alrosa is one of the world's largest diamond companies, accounting for 25 percent of global production.