T-Technologies boosts net profit to IFRS to 122 bln rubles in 2024, 39 bln rubles in Q4

MOSCOW. March 20 (Interfax) - IPJSC T-Technologies increased its net profit to International Financial Reporting Standards (IFRS) 51% in 2024 to 122.2 billion rubles and 1.9-fold in Q4 to 38.7 billion rubles, the group said.

The results matched the consensus forecast, which expected growth in net profit of 50.9% in 2024 to 122.1 billion rubles and a 1.9-fold increase to 38.6 billion rubles in Q4.

The group's return on equity in 2024 fell to 32.5% from 33.5%, and it fell to 30.2% in Q4 from 30.4% in the same period of 2023, the group said.

T-Technologies plans to increase its profit at least 40% year-on-year in 2025.

"The implementation of technologies and the continued growth of the business with a focus on efficiency allow us to already expect a net profit increase for the entire year of 2025 of at least 40%, as usual with a greater contribution from the second half, while maintaining profitability at the traditionally high level of over 30% by the end of the year," T-Technologies President Stanislav Bliznyuk was quoted as saying.