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Russia's MTS posts 20.7% year-on-year drop in 1Q06 net profit

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MOSCOW, June 15 (RIA Novosti) - MTS [RTS: MTSS], Russia's largest mobile phone operator, said Thursday its net profit for January-March 2006 had declined 20.7% year on year, to $184.4 million.

MTS posted a U.S. GAAP net profit of $1.13 billion in 2005, a 14% increase on 2004.

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