MegaFon Q3 Net Profit Rises 19.6% to $476 Mln

MOSCOW, November 8 (RIA Novosti) – MegaFon, one of Russia’s three largest mobile phone operators, posted a third-quarter net profit of 14.9 billion rubles ($476 million) to US GAAP, up 19.6 percent year-on-year, the company said on Thursday.

The company’s revenues for the quarter rose 12.3 percent to 71.2 billion rubles. MegaFon’s OIBDA rose 21.1 percent to 32.14 billion rubles, while OIBDA margin grew to 45.1 percent from 41.9 percent a year earlier.

“We had excellent third quarter results and strong performance across all the areas of our business supported by solid sequential revenue growth, strong OIBDA gain with the highest margin in the last eight quarters, increased cash flow, and the highest ever quarterly net income in the history of the company,” MegaFon CEO Ivan Tavrin said.

The number of MegaFon’s active mobile subscribers increased 1.7 percent from the second quarter to 64.8 million as of September 30, 2012.


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