Rostelecom profits flat

3 Nov 2005

Russa’s former long-distance telephony monopoly operator Rostelecom has reported a third quarter net profit of RUB2.18 billion (USD76.28 million), flat with the RUB2.17 billion reported a year ago. The figure was down significantly on 2Q profits of RUB3.25 billion, due to a downwards RUB545.83 million revaluation of the company’s financial investments. On the positive side, net profit for the first nine months of the year rose 19% year-on-year to RUB7.84 billion due to gains from the revaluation and sale of financial. Rostelecom said its nine-month revenues increased 7.7% to RUB29.76 billion, and EBITDA rose 5.1% to RUB11.62 billion.

Russia, Rostelecom