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VolgaTelecom posts FY 2010 Net Profit of 3.9 billion roubles

VolgaTelecom posts FY 2010 Net Profit of 3.9 billion roubles
Russia´s Volga region telecom provider, VolgaTelecom, has posted a FY 2010 Net Profit of 3.9 billion Roubles under IFRS.

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The bottom line was down 7 % year on year from the FY 2009 net result of 4.2 billion roubles, with OIBDA decreasing 6% to 13.6 billion roubles, despite an 8.4% increase in revenues to 35.5 billion Roubles from 32.8 billion Roubles a year before.

VolgaTelecom noted a 26% year on year increase in the client database of broadband internet services. However, high operational costs mostly pushed OIBDA lower

VolgaTelecom is expected to become merged into Rostelecom in April.

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