4 May 2010 18:38

VolgaTelecom boosts sales revenue by 6% in Q1

NIZHNY NOVGOROD. May 4 (Interfax) - OJSC VolgaTelecom increased its sales revenue by 5.6% year-on-year to 7.0297 billion rubles in the first quarter of 2010, the company said in its financial accounting.

The company said that VolgaTelecom's sales revenue from telecommunications operations in the first quarter increased by 5.3% to 6.675 billion rubles.

The company's net profit increased in the first quarter by 70% to 1.2799 billion rubles.

OJSC VolgaTelecom's financial results for Q1 2010:

Financial results	Q1 2010	Q1 2009
Sales revenue	7 029 693	6 655 386
Production costs	5 320 580	5 246 600
Profit (losses) from sales	1 709 113	1 408 786
Pretax profit (losses)	1 663 287	994 458
Net profit (losses)	1 279 868	765 261

VolgaTelecom is one of Russia's biggest interregional communications operators and is part of Svyazinvest, which owns 51% of the company's voting shares (38% of share capital).