Russia's MTT posts net profit of 7.2 mln rubles in 2008
MOSCOW. June 19 (Interfax) - Russia's MultiRegional Transit Telecom (MTT) posted net profit of 7.238 million rubles under Russian accounting standards (RAS) in 2008 versus 1.962 million rubles in 2007, the company said in a statement.
Sales revenue grew 4.6% to 21.194 billion rubles in 2008. Costs increased 8.1% to 15.848 billion rubles.
Pre-tax profit declined to 395.788 million rubles from 2.645 billion rubles in 2007.
MTT said earlier that US GAAP sales revenue grew 4% to $1.107 billion in 2008, while OIBDA (operating income before depreciation and amortization) rose 4% to $105 million.
MTT provides long-distance and international communications services and also transits traffic between cellular networks and fixed-line operators.