Russia's MTS posts $681.8 million Q2 net loss August 28, 2012 - 16:50 AMT PanARMENIAN.Net - Russia's biggest mobile phone operator MTS posted a $681.8 million second-quarter net loss to US GAAP, after writing-off $1.1 billion due to the suspension of its subsidiary's license in Uzbekistan, the company said on Tuesday, Aug 28. New York-listed MTS, controlled by Vladimir Yevtushenkov’s AFK Sistema conglomerate, had its Uzbekistan subsidiary's license suspended in July, which a local court revoked permanently on August 13. The company says it is fighting to save the Uzbek business. Excluding that write-off, MTS said it made a net profit of $357 million, up from a $367 million loss in the second quarter of 2011. Revenues for the second quarter were down 0.2 percent to $3.12 billion against a $3.08 billion forecast, reflecting the negative impact of ruble depreciation, MTS said. OIBDA rose 5.4 percent to $1.37 billion, with a 44 percent margin, lower than analysts' average estimates of $1.32 billion and 42.8 percent respectively, RIA Novosti reported. Partner news  Top stories IFC invested $244 million in 40 projects across a range of sectors, including financial markets, manufacturing, and mining. Armenian Prime Minister addressed a letter to Public Services Regulatory Commission over the reconsideration of gas prices. Armenia’s Public Services Regulatory Commission plans to reconsider electricity generation and distribution prices. Edmon Manukyan been addressed by the residents of Armavir and Aragatsotn provinces whose crops have been damaged over a strong hail.   Partner news |  Latest news Afghan lawmakers block law protecting women  Among its provisions are bans on child marriage and the traditional practice of selling and buying women to settle disputes.Egyptian police block crossing into Gaza The protesting policemen called on President Mohamed Mursi, who is a moderate Islamist, to help free their colleagues.U.S. politicians seek answers about Google Glass Some of the points in the letter were addressed during an interview in San Francisco with Google Glass director Steve Lee.Russia may deliver trucks, helicopters to Peru If the Kamaz and Mi-8 deals go ahead, Russia is prepared to set up centers for servicing the vehicles and aircraft, Goreslavsky said. |
