Rostelecom net profit falls 48% to RUB1.03 billion

10 May 2010

Rostelecom’s revenue for the three months ended 31 March 2010 was RUB14.11 billion (USD450.4 million), a decrease of 8.2% year-on-year, mainly due to a fall in sales from a number of traditional segments. Operating expenses for the quarter amounted to RUB12.42 billion, a year-on-year decrease of 5.1%, largely due to a reduction in direct costs. Operating income before depreciation and amortisation (OIBDA) was RUB2.96 billion, down 12.3% while OIBDA margin was 21.0%, down one percentage point from the same period of 2009. Operating profit decreased by 26.3% year-on-year to RUB1.68 billion, while net profit slipped 48% to RUB1.03 billion.

Russia, Rostelecom