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Russia's MTS Sees Net Profit Fall 92% in Q4

Russia's top mobile phone operator MTS said Tuesday that its net profit in the fourth quarter of last year dropped almost 92 percent to 1.6 billion rubles ($25.9 million), partly hit by foreign exchange losses.

MTS, part of the Sistema conglomerate, said it expected total 2015 revenues to rise by more than 2 percent compared to an increase of 3.1 percent last year.

MTS also forecast a 2015 margin on operating income before depreciation and amortization of more than 40 percent.

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