Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

MTS Profit Down

MTS, Russia's top mobile phone operator, reported Friday quarterly results below analysts' expectations, with earnings pulled lower by a foreign exchange loss on its debts after a gain a year earlier.

Net profits slipped to 13 billion rubles ($403 million) in the first quarter, compared with a profit of 15.6 billion rubles in the same year-ago period, MTS said, falling short of the 13.6 billion ruble media poll forecast.

Adjusted operating income before depreciation and amortization (OIBDA) grew 3 percent to 39.1 billion rubles on revenue of 93 billion rubles, with both results missing expectations.

Revenue rose 2 percent, held back by a halt to the company's operations in Uzbekistan. When adjusted for the Uzbekistan factor, revenue growth was 6 percent.

(Reuters)

Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.