Profit of Russian Mobile Operator MTS Overcame Forecasts

Russia's largest mobile operator MTS has received income in the first quarter of 2010 after a loss a year earlier, the company said on Tuesday.



Profit was $ 381.3 million against loss of $ 53.5 million. Analysts had forecast of profit about $ 357.1 million.



The contribution of exchange differences in profit was $ 77.2 million. Revenue of MTS, calculated in accordance with the US GAAP, increased in January-March 2010 to $ 2.614 billion from $ 2.122 billion a year earlier, were slightly above forecast at $ 2.6 billion.



MTS owns 62 per cent of fixed-line operator and Internet provider Comstar, consolidating its activity from the fourth quarter of 2009. Results of the 1 quarter of 2009 have been restated in connection with the consolidation.


Operating profit before revaluation of MTS and amortization (OIBDA) rose to $ 1.154 billion from $ 958 million a year earlier, were generally at the level forecast at $ 1.15 billion.

Return MTS operating profit before revaluation and amortization (OIBDA margin) decreased to 44,1 percent from 45,2 in the first quarter of 2009, coinciding with the forecast.
 
Nat Lawyer