MegaFon Posts 51% Profit Rise, Users Up 19%

July 2008 | Company News Alert

Russia's third largest mobile network operator, MegaFon, has announced its financial and operating results for the quarter ended March 31 2008. These results show that the company's net profit grew by almost 51% year-on-year (y-o-y), from RUB6.137bn in Q107 to RUB9.257bn in Q108. This was achieved on the back of a 28.8% rise in aggregate revenues to US$37.789bn, a 32.3% increase in EBITDA to US$18.887bn and a 19.3% improvement in overall subscriber numbers.

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