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18 Jun, 2010 09:36

Rostelecom posts 1Q 2010 net profit of 579 million Roubles

Rostelecom posts 1Q 2010 net profit of 579 million Roubles

Telecommunications provider, Rostelecom, has posted a 1Q 2010 net profit of 579 million Roubles under IFRS.

The bottom line is down 31.8% year-on-year from 849 million Roubles for 1Q 2009, with OIBDA falling slightly at 2.8% to 2.732 billion Roubles, and Revene also decreasing 8.8% to 14.937 billion Roubles.

The company said in a statement that the Revenue reduction was largely due to a decline in traditional services provided by the company such as long-distance calling, but pointed to an 18.4% revenue jump with high-tech services such as internet access and data centers.