Mobile TeleSystems Q3 Profit Decreases; Lifts 2014 Revenue Guidance

(RTTNews) - Mobile TeleSystems OJSC (MBT) reported that its third-quarter net income attributable to the Group decreased to 16.06 billion Russian rubles from 18.08 billion rubles.

Consolidated Group revenues increased 3.6% year-over-year to 107.1 billion Russian rubles.

Andrei Dubovskov, MTS CEO, said, "We witnessed revenue growth in Russia, Ukraine and Turkmenistan, but registered a slight decline in Armenia. As in Q2, hryvna devaluation and a weakening ruble impacted our Group performance."

The company increased its 2014 revenue growth guidance from 1% to above 2%.