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Russia's MTS Q3 net profit up 43 pct to 18 bln rbls, y/y
November 14, 2017 / 12:00 PM / a month ago

Russia's MTS Q3 net profit up 43 pct to 18 bln rbls, y/y

MOSCOW, Nov 14 (Reuters) - Russia’s top mobile phone operator MTS said on Tuesday its third quarter net profit was up 43 percent to 18 billion roubles ($301.4 million), year-on-year.

MTS, part of the Sistema conglomerate, added that its third quarter revenue was at 114.6 billion roubles, up 2.1 percent, while adjusted operating income before depreciation and amortisation (OIBDA) rose 6.7 percent to 48.8 billion roubles.

MTS raised growth forecast for its adjusted OIBDA to over 5 percent from more than 4 percent and said that revenue was expected to grow by up 2 percent this year from previous forecast of between minus 2 to plus 2 percent.

MTS Chief Executive Officer Andrei Dubovskov told a briefing that MTS set aside 1.1 billion roubles in provisions due to the company’s business suspension in Turkmenistan earlier this year.

$1 = 59.7305 roubles Reporting by Anastasia Teterleva; writing by Katya Golubkova; editing by Vladimir Soldatkin

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