MTS IFRS net profit plunges 27% to 9 bln rbl in Jul–Sep

MOSCOW, Nov 16 (PRIME) -- The net profit of Russian mobile operator MTS decreased 27.1% on the year to 9 billion rubles in July–September, as calculated under International Financial Reporting Standards (IFRS), the company said on Thursday in a statement.

“The negative earnings change in July–September 2023 is mainly attributable to higher finance costs against a backdrop of higher interest rates, higher depreciation and amortization amid the continued investment in network and ecosystem development,” the company said.

Revenue increased 16% to 159.7 billion rubles “on the back of all the business segments growth.”

Operating income before depreciation and amortization (OIBDA) rose 0.6% to 60.8 billion rubles. “Positive drivers of OIBDA were the growth of Telecom sales, successful results of Fintech, revenue growth and effective cost management in Media segment,” MTS said.

The operating profit lost 4.5% to 31.2 billion rubles.

The net debt widened 5.6% to 437.9 billion rubles.

(89.4565 rubles – U.S. $1)

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