MTS’ IFRS net profit falls 14% to 12.5 bln rbl in Jan–Mar

MOSCOW, May 23 (PRIME) -- The net profit of Russian mobile operator MTS decreased 14% on the year to 12.5 billion rubles in January–March, as calculated under International Financial Reporting Standards (IFRS), the company said on Tuesday in a statement.

MTS attributed the fall to fluctuations of exchange rates and an increase in expenses on amortization following the development of networks on key markets of Russia and Ukraine.

Revenue went down 1.1% to 104.7 billion rubles. Revenue in the country rose 0.9% to 97.1 billion rubles.

Adjusted operating income before depreciation and amortization (OIBDA) rose 1.8% to 41.8 billion rubles. OIBDA margin added 1.2 percentage points to 40%.

The company’s net debt contracted to 203.3 billion rubles as of March 31 from 220.9 billion rubles as of December 31, 2016. Capital expenditures shrank almost 40% to 11.1 billion rubles.

The number of subscribers decreased 1% on the quarter to 108.8 million as the end of the March.

(56.4988 rubles – U.S. $1)

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