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Rostelecom posts 1H 2009 Net Profit of 1.4 billion Roubles

Rostelecom posts 1H 2009 Net Profit of 1.4 billion Roubles
Russian fixed line provider, Rostelecom, has posted a 1H 2009 Net Profit of 1.4 billion Roubles under IFRS.

The bottom line is down by 85.4% from the 9.8 billion Rouble Net Profit posted for 1H 2008, with OIBDA also falling by 26.9% year on year to 5.7 billion Roubles, despite Revenues rising 4.4% year on year to 32.8 billion.

The company attributed the Net Result largely to a 619 million Rouble foreign exchange loss, with operating expenses rising 13.4% year on year to 30.8 billion. The upside saw Revenues from new and value-added services, including data services, INS, leased lines and customer equipment services, among others, rise by 29.0% year on year to 10.5 billion.