Russia’s MTS Jan–Mar IFRS net profit rises 33% to 15 bln rbl

MOSCOW, May 19 (PRIME) -- The net profit of Russian mobile operator MTS increased 33.3% on the year to 14.507 billion rubles in January–March, as calculated under International Financial Reporting Standards (IFRS), the company said Thursday in a report.

Revenue rose 7.9% to 108.090 billion rubles.

Adjusted operating income before depreciation and amortization (OIBDA) slid 0.1% to 41.279 billion rubles. OIBDA margin went down 3 percentage points to 38.2%.

Operating profit rose 9.7% to 21.031 billion rubles.

“We continue to see sustained demand for data throughout our key markets, which continues to drive growth in both Russia and Ukraine. Macroeconomic factors and competitive issues continue to impact our performance in many ways, but in sum, our group revenue performance continues to pace the market,” MTS’s CEO Andrei Dubovskov said.

The operator reiterated its guidance for 2016: the group’s revenue is expected to rise more than 4% and the group’s adjusted OIBDA change is seen from a 2% fall to a 1% growth.

(65.0641 rubles – U.S. $1)

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