MTS revenue rises 23.2% in Q1 (Russia)

www.WirelessFederation.com/news: 23.2% year-on-year rise in the revenue has been announced by Russian telecoms group MTS for the three months ended March 31, 2010 with USD 2.614 billion. The positive currency effects can be attributed as the reason behind the rise in the revenues.

Revenues from the mobile segment rose 17.9% to USD2.07 billion and from the fixed line segment, it increased 22.1% to USD408 million. Increased usage, greater adoption of data products, higher handset sales, subscriber additions and its move into the fixed market with the acquisition of Comstar UTS are some of the other factors contributing to the growth.
20.4% rise in the OIBDA of USD1.154 billion has been recorded while the OIBDA margin fell one percentage point to 44.1%.

Net profit of USD381.3 million has also been reported by the company when compared to a loss of USD53.5 million in the year-earlier period, helped by refinancing of much of its borrowing.