Support The Moscow Times!

Comstar Q2 Profit Up 63%

Fixed line operator Comstar on Wednesday reported a 63 percent rise in second-quarter net income thanks to lower debt financing costs and a pickup in revenues.

Comstar, which is being taken over by mobile operator Mobile TeleSystems, said in a statement that adjusted net income attributable to shareholders rose to $48.8 million from $30 million in the year-ago period.

The gain is partly because of a reduction in the interest rate on Comstar’s 26.6 billion ruble ($861 million) debt to Sberbank to 10.5 percent from 13.35 percent, Comstar spokeswoman Yekaterina Nevskaya said. 


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.