Lithuanian Teo LT sees net profit drop 1.5% in Q1

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Lithuanian Teo LT sees net profit drop 1.5% in Q1

VILNIUS. April 18 (Interfax) - Lithuanian telecommunications group Teo LT posted net profit of 37.1 million litai in January-March 2012, down 1.5% on the same period of 2011, the group reported.

Revenue went up 2.5% to 190 million litai.

Teo LT invested 23 million litai in the first quarter, up 57%.

Teo LT is Lithuania's largest integrated telecoms, television services and IT group. Scandinavian holding company TeliaSonera owns 68.29% of Teo LT charter capital.

The litas is pegged to the euro at 3.4528 litai/EUR1.