UPDATE: MTS IFRS net profit plunges 27% to 9 bln rbl in Jul–Sep
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MOSCOW, Nov 16 (PRIME) -- The net profit of Russian mobile operator MTS decreased by 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 by 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 by 5.6% to 437.9 billion rubles.
The number of users of MTS’ online cinema KION increased by 33.2% on the year to 7.3 million in the reporting quarter. The number of hours of viewing of content per user rose by 20%. The share of the users watching KION’s original content reached 70%.
The total number of subscribers of MTS’ pay TV services grew 19.8% to 12.2 million.
(89.4565 rubles – U.S. $1)
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