ST. PETERSBURG, June 5 (RIA Novosti) - North-West Telecom [RTS: SPTL] increased its net profit calculated to International Financial Reporting Standards almost eightfold year-on-year to 10.113 billion rubles ($425 million), the Russian communications provider said on Thursday.
North-West Telecom, the largest communications provider in Russia's northwest, said earnings before interest, tax, depreciation and amortization rose 180.8% to 18.6 billon rubles ($783 million).
Core earnings increased 17.3% to 24.2 billion rubles, while operating costs declined 12.3% to 19.9 billion rubles.
North-West Telecom (formerly the St. Petersburg Telephone Network), whose licensed territory covers all of Russia's Northwest Federal District, with a population of 13.7 million, is 39.5% owned by Russian telecoms giant Svyazinvest.
