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    Rostelecom Q1 Net Profit Up 38% to $446 Mln

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    Russian long-distance operator Rostelecom saw its first-quarter net profit jump 38 percent year-on-year to 14.6 billion rubles ($446.2 million) to IFRS, the company said in a statement on Friday.

    Russian long-distance operator Rostelecom saw its first-quarter net profit jump 38 percent year-on-year to 14.6 billion rubles ($446.2 million) to IFRS, the company said in a statement on Friday.

    Rostelecom's first quarter net profit was above a consensus forecast of analysts polled by RIA Novosti of 13.21 billion rubles. The company's revenue increased 17 percent year-on-year to 84.4 billion rubles with OIBDA up 29 percent year-on-year in January-March 2012 to 34.8 billion rubles.

    "Rostelecom has shown an impressive growth in key financial and economic indicators in the first quarter of this year. Such result was achieved also due to broadband segments and IPTV, our traditional sources of revenue," Rostelecom President and CEO Alexander Provotorov said.

    The company's broadband Internet subscriber base rose 13 percent to 8.4 million subscribers and the Pay TV subscriber base grew eight percent, year-on-year, to six million users.

     

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