Russia's SMARTS RAS Jan-Sep Net Profit Soars to 188 Mln Rubles
MOSCOW, Nov 25 (Prime-Tass) -- The net profit of Russian regional mobile operator SMARTS rose to 188.942 million rubles in January-September from 28.3 million rubles in the same period of 2004, as calculated under Russian Accounting Standards, or RAS, the company said Friday.
SMARTS did not explain its soaring net profit.
The company's revenue rose 4.6% on the year to 1.764 billion rubles in January-September, SMARTS said, adding that gross profit fell 19.5% on the year to 469.866 million rubles in the period.
SMARTS said that it expects its investments to amount to 54 million euros this year. In the beginning of this year the company planned to invest at least 100 million euros in its development.
SMARTS also said that it plans to increase the number of its subscribers to 2.8 million people by the end of the year.
SMARTS' subscriber base rose to 2.6 million as of October 1 from 1.8 million people as of January 1.
SMARTS, or Middle-Volga Interregional Association of Radio and Telecommunication Systems, operates a GSM900/1800 standard network in 16 Russian regions, where 33.9 million people live, or 24% of the Russian population.
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Posted to the site on 27th November 2005