Mobile TeleSystems 2Q Profit Drops on Eurobond Buyback, Currencies
August 18 2016 - 9:06AM
Dow Jones News
By Andrey Ostroukh
MOSCOW--Russia's largest telecoms company PAO Mobile TeleSystems
(MTSS.MZ) saw its net profit nearly halved in the second quarter on
currency exchange rate fluctuations and higher expenses, MTS said
Thursday.
Net profit dropped 47% to 9.06 billion rubles ($141.7 million)
due to a buyback of eurobonds denominated in U.S. dollars and
volatility on the foreign exchange market.
Revenue increased 5.3% on the year to RUB108.14 billion in the
quarter, while operating income before depreciation and
amortization slid 4.3% to RUB40.89 billion.
Write to Andrey Ostroukh at andrey.ostroukh@wsj.com
(END) Dow Jones Newswires
August 18, 2016 08:51 ET (12:51 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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