MegaFon boosts Q3 net profit by 23.1% to RUB 14bn

In Q3 2010, the revenue reported by MegaFon was RUB 57.6m, representing a 21.3% y-o-y growth. OIBDA was 46.1%, as compared to 49.7% in Q3 2009. At the same time, net income increased by 23.1% year-on-year, to RUB 14m. The company estimates its customer base at 56.4 million net subscribers (for September 30, 2010), representing an increase of 16.3% year-on-year. According to officials, the results come mostly from traditional voice services, but the growth was also driven by data services, which increased by 14%. MegaFon is one of the three major mobile networks in Russia, operating over 52 million active subscriber accounts and subsidiaries in Tajikistan, Abkhazia and South Ossetia.