Support The Moscow Times!

Rostelecom Profit Up 38%

Rostelecom said Friday that its net profit in the first quarter grew by 38 percent year on year, with net income rising to 14.6 billion rubles ($446.13 million) and revenues growing 17 percent in annual terms to 84.4 billion rubles.

Revenue from broadband services increased by 9 percent and from pay television products by 58 percent.

The company's operating income before depreciation and amortization was up 29 percent to 34.8 billion rubles in the first three months of the year. On Thursday, Rostelecom was named one of the winners of licenses for next-generation mobile services.

(Reuters)

Read more

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

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.