Russian mobile operator MTS posts 36% net profit growth in Q1

By RIA Novosti,

Moscow : Russian cell phone operator MTS [RTS: MTSS] said on Tuesday its US GAAP net consolidated income increased 36%, year-on-year, in the first quarter to $610 million.

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MTS, the largest mobile phone operator in Russia as well as in Central and Eastern Europe in terms of franchises, said its revenues in the reporting period grew 37% to $2.38 billion.

OIBDA (operating income before depreciation and amortization) climbed 30% to $1.18 billion and the OIBDA margin reached 49.4%, MTS said.