Rostelecom increased 3-month IFRS net profit by 58%

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AK&M 14 May 2021 19:41

IFRS net profit of Rostelecom for the first quarter of 2021 increased by 58% year-on-year to RUB 11.8 billion, according to the company's financial statements.

Revenue increased by 9% to RUB 132 billion, OIBDA by 18% to RUB 55.4 billion, OIBDA margin by 3.3 p.p. to 42%.

Capex excluding state programs increased by 24% to RUB 27.2 billion (20.6% of revenue). Net debt increased by 1% year-on-year to RUB 470.7 billion.

PJSC Rostelecom (tax number: 7707049388) is the national long-distance communication operator leading in the amount of long-distance domestic and international data traffic and operating the land-line network of television and broadcasting channels. Rostelecom's major shareholder is the Government of Russia. Rostelecom's IFRS net profit for 2020 increased by 16% to RUB 25.35 billion from RUB 21.88 billion a year earlier. Revenue increased by 15% to RUB 546.89 billion from RUB 475.75 billion.