MegaFon sees 50% growth in first-quarter profit

30 Jun 2008

The third-largest Russian cellular operator by subscribers, MegaFon, has reported a 50.8% rise in first-quarter net profit to RUB9.26 billion (USD395 million). Consolidated revenues grew 28.8% to RUB37.79 billion, while EBITDA was up 32.3% at RUB18.89 billion. MegaFon claimed 36.97 million subscribers in Russia at the end of March, up from 35.66 million at the start of the year.

Russia, MegaFon