Profit of “MegaFon” in the second quarter fell by 44.4%

Net profit (RAS) of mobile operator MegaFon in the second quarter of 2016 decreased by 44.4% to RUB 7.2 million, compared to the same period in 2015, says the company.

In the first six months the company’s net profit decreased by 21.2% and amounted to RUB 16 million

In the second quarter, consolidated revenue of the operator grew by 3.4% and 78.7 mln While for the first half consolidated revenue increased by 2.5% to 153,8 million RUB revenue Growth MegaFon is associated with the increase in revenue from mobile Internet. So, for the second quarter, revenues from this service increased by 6.3% and reached 20.6 million RUB in the first half revenue growth for the mobile Internet increased by 10.8% and reached 41.3 million RUB.

According to the CEO of MegaFon Sergey Soldatenkov, the growth in consolidated revenues in the second quarter, consistent with the projections of the operator. The change in the structure of the company’s revenues, as noted Soldatenkov, was affected by increased competition and lower revenues from provision of mobile communication services. The revenue growth occurred with sales of subscriber equipment and fixed services segment.