MOSCOW, August 3 (RIA Novosti) - MTS [RTS: MTSS], Russia's No. 1 mobile operator, said Thursday its net profit according to Russian Accounting Standards increased 160% year-on-year in the first half of 2006 to 14.1 billion rubles ($529 million).
The company's net profit in the second quarter totaled 7.54 billion rubles ($282 mln), up from 6.61 bln rubles ($247 mln) in January-March.
MTS said a structural reorganization, with some subsidiaries joining the parent company, had driven the profit increase. The mobile giant said Q2 revenues had also increased 20%.
MTS shares are traded on the New York Stock Exchange and on off-exchange markets in Europe.
