MTS increased its net profit for the quarter 3.3 times to 12.7 billion rubles

MOSCOW, May 19 (Reuters) – MTS increased its first-quarter net profit 3.3 times to 12.7 billion rubles, Russia’s largest telecommunications company said on Friday.

Revenues increased by 5.8% to 139.6 billion rubles.

Adjusted OIBDA increased by 2.4% to RUB 57.7 billion.

Earnings grew at a low level last year thanks to lower finance costs, positive revaluation of securities and liability write-downs, OIBDA growth due to good results of Fintech, Telecom and Media.

“The adoption of the new dividend policy has been postponed due to continued external uncertainty,” reads the presentation of the first quarter results.

At the end of 2022, MTS plans to pay a dividend of 34.29 rubles per share, which gives a total of 67.2 billion rubles. (Gleb Stolyarov)