MGTS RAS net profit rises 23.5% to 19.6 bln rbl in 2018

MOSCOW, Apr 3 (PRIME) -- The net profit of Moscow City Telephone Company (MGTS), a fixed line unit of mobile operator MTS, increased 23.5% in 2018 to 19.6 billion rubles, as calculated under Russian Accounting Standards (RAS), MGTS said on Wednesday in a statement.

Revenue edged up 0.5% to 38.7 billion rubles.

Income from broadband services on the mass market rose 14% to 4.9 billion rubles. Revenue from pay TV increased 23% to 1.4 billion rubles.

Income from mobile virtual network operator services on MTS’ network doubled to 1.4 billion rubles.

“We plan to keep and raise financial stability in 2019 by improving effectiveness of the team thanks to a further system transformation by offering the market new products and services and by giving a start to new business directions,” MGTS Commercial Director Alexei Nazarov said.

The operator’s total subscriber base rose 5% to 5.5 million.

(65.4726 rubles – U.S. $1)

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