Rostelecom IFRS net profit rises 15% to 3.9 bln rbl in Jan–Mar

MOSCOW, May 15 (PRIME) -- The net profit of Russian state-controlled telecom operator Rostelecom increased 15% on the year to 3.864 billion rubles in January–March, as calculated under International Financial Reporting Standards (IFRS), the company said on Tuesday in a statement.

Revenue rose 8% to 76.203 billion rubles.

Operating income before depreciation and amortization (OIBDA) added 0.1% to 23.194 billion rubles. The OIBDA margin lost 2.6 percentage points to 30.4%.

Rostelecom improved its 2018 revenue guidance. “We act conservatively…we made the next step by raising the outlook for revenue growth to more than 2%. At that we reserve an option to adjust our forecasts in the future,” Financial Director Sergei Anokhin told reporters.

The operator earlier expected its 2018 revenue to rise by up to 2%.

Guidance for the OIBDA margin for 2018 remains unchanged at more than 31.5%, and capital expenditures are seen at 60–65 billion rubles, excluding state programs.

(61.7684 rubles – U.S. $1)

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