Rostelecom Q2 Net Profit Up 3% to $274 Mln

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Russian long-distance operator Rostelecom saw its second quarterIFRS net profit increase 3 percent year-on-year to 8.8 billion rubles ($274.1 million) , the company said in a statement on Thursday.

Russian long-distance operator Rostelecom saw its second quarterIFRS net profit increase 3 percent year-on-year to 8.8 billion rubles ($274.1 million) , the company said in a statement on Thursday.

That was above a consensus forecast of 8.63 billion rubles ($268.8 million) from analysts polled by RIA Novosti. The company's revenue for the quarter increased six percent year-on-year to 75.5 billion rubles with OIBDA up 16 percent year-on-year in April-June 2012 to 64.7 billion rubles.

"Growth achieved during the second quarter demonstrates that we are delivering on our five-year strategy. We continue to increase the number of households passed using Rostelecom’s FTTx technology, which strengthens our ability to sell broadband and Pay TV services," Rostelecom President and CEO Alexander Provotorov said.

The company's broadband Internet subscriber base for the quarter rose 13 percent to 8.6 million subscribers and the Pay TV subscriber base grew 10 percent year-on-year to 6.2 million users.

 

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