Bashinformsvyaz sees net profit to RAS cut in half in H1
UFA. Aug 14 (Interfax) - OJSC Bashinformsvyaz (Ufa) saw net profit to Russian Accounting Standards get cut in half in the first half of 2012 compared to the first half of 2011 to 364.9 million rubles, the company said in a quarterly report.
The company told Interfax that net profit was down due to spending on development, including construction of telecom facilities.
Revenue grew 3.4% to 3.03 billion rubles. The share of revenue from local fixed general use telephone line services in overall revenue was 42.1% and intra-zonal telephone services amounted to 14.3%.
Bashinformsvyaz key financial indicators in H1 (thsd. rubles):
| HI 2012 | H1 2011 | |
| Sales revenue | 3 030 722 | 2 930 053 |
| Cost | 2 772 655 | 2 564 096 |
| Gross profit | 258 067 | 365 957 |
| Sales profit | 256 833 | 357 724 |
| Pretax profit | 476 917 | 848 553 |
| Net profit | 364 897 | 753 500 |
Bashinformsvyaz majority shareholders are Rostelecom with 38.4% of charter capital, Russia through the Federal State Property Management Agency with 28.2% and Bashkortostan with 17.8%.
Bashinformsvyaz is the main fixed line operator on the regional telecommunications market.
