MegaFon's nine-month profit up 65%

31 Jan 2006

Net profits in the period January-September 2005 at Russia’s third largest mobile operator MegaFon soared 65% year-on-year to USD281 million, as calculated under US GAAP, the company reported yesterday. MegaFon’s revenues rose 63% y-o-y to USD1.684 billion in the nine-month period, while EBITDA increased 71% to USD781.73 million. In the third quarter the cellco’s net income rose 36% to USD93.74 million on revenues of USD658.93 million, up 58.7%. MegaFon’s subscriber base reached 20.991 million users at the end of September 2005, up from 18.194 million at the end of June.

Russia, MegaFon