MTS Uzbek books USD2.1 million net loss for Q1 2012

Russian-backed cellco MTS Uzbekistan has reported revenues of USD115.7 million for the first quarter of 2012, up 5% year-on-year. With operating income before depreciation and amortisation (OIBDA) declining 9.4% y-o-y to USD51.3 million, however the company recorded a net loss in January-March of USD2.1 million. Average revenue per user (ARPU) increased to USD4.1 from USD3.9 in the corresponding period of 2011, whilst average minutes of usage per user (MOU) grew to 468 minutes from 402 minutes a year earlier. The cellco’s subscriber base also increased from 9.1 million to 9.5 million.