Home / Bussiness / MTS Quarterly Profits Fall on Currency Losses

MTS Quarterly Profits Fall on Currency Losses

Russia’s MTS has reported its first-quarter financial results, and announced that its consolidated revenues rose by 2 percent to reach RUB93 billion (US$2.9 billion), but that net profits fell by 16.9% to RUB13 billion (US$403 million).

Overall growth compared to a year ago was limited by the suspension of the company’s operations in Uzbekistan. Excluding Uzbekistan, revenues would have grown by 6% year-over-year.

The company also suffered a RUB1.5 billion loss on foreign currency transactions.

Alexey Kornya, MTS’s Chief Financial Officer, said, “In Q1 2013, Group Adjusted OIBDA increased by 3% year-over-year to 39.1 billion rubles. Excluding Uzbekistan, Adjusted OIBDA grew year-over-year by 8%. This was driven by top-line growth, although we faced continuing cost pressure from our network roll-out, retail expansion and increase in personnel costs.”

The total customer base grew by 0.8% over the year to end at 101.86 million.

The company ended the period with net debt of RUB 183 billion.

loading...

Check Also

Canadian passenger airplane suffers injury after direct hit

Canadian passenger airplane suffers injury after direct hit

Why it issues to you Fly your drone near an airport or one other off-limits …

Leave a Reply

Your email address will not be published. Required fields are marked *

Are you Human? * Time limit is exhausted. Please reload CAPTCHA.