Ukrtelecom posts higher profits despite revenue decline

30 Apr 2013

Ukrainian incumbent telco Ukrtelecom’s revenues declined by 1.4% year-on-year in the first quarter of 2013 to UAH1.619 billion (USD196 million), down from UAH1.642 billion in January-March 2012, according to preliminary figures aired in the press. However, the company’s net profit tripled from UAH5.4 million in Q1 2012 to UAH16.0 million in the first three months of 2013, reported Telecompaper citing local site Vchaspik.ua. In other recent news, Ukrtelecom has placed UAH500 million in ‘O-Q series’ bonds to raise additional funds.

Ukraine, Ukrtelecom (incl. TriMob)