Russian mobile operator MTS reports 76.2% YoY slump in Q1 net profit

Russia’s biggest mobile operator MTS on Wednesday reported a 76.2% yea-on-year drop in first-quarter net profit to 3.9 billion roubles ($62.9 million), but saw group revenues increase by 8.5% to 134.4 billion roubles.

Operating income before depreciation and amortisation (OIBDA) also increased, up 2% to 56.5 billion roubles, MTS said.

President and CEO Vyacheslav Nikolaev said the company was focused on ensuring daily business continuity and remained confident in its ability to navigate challenges. Nasdaq