MTS hailed one of its best quarters in recent history as the financial performance in the three months to 30 September led to it upping its full-year guidance.
The operator saw group revenues rise 2.1 percent year-on-year to RUB114.6 billion in Q3, while operating profit rose 14.2 percent to RUB27.6 billion.
Revenues also improved on the previous quarter, when MTS registered growth of 0.7 percent.
Kirill Dmitriev, VP for Sales and Customer Service, who also acts as the company’s Chief Operating Officer, told European Communications the results represented “one of the best quarters in the last 10”.
In particular, Dmitriev highlighted MTS’s Russian opco as the main driver of growth.
Revenues in the company’s home market rose 3.2 percent to RUB106.3 billion despite a 0.7 percent drop in mobile subscribers to 78.5 million.
The COO said the opco had benefited from improving macro-economic conditions, leading to increased consumption of basic services such as data and voice.
In addition, Dmitriev said, the roaming market has started to recover after two years of decline.
In Ukraine, MTS’s second largest market, revenues rose 3.7 percent to UAH3 billion despite its subscriber base falling 0.1 percent to 20.8 million.
Revenues in Armenia and Belarus rose 1.5 percent and 13.3 percent respectively, while in Turkmenistan they fell 3.3 percent.
Overall, MTS raised its full year revenue guidance from between -2/+2 percent growth to between zero and +2 percent.
Dmitriev said he was “moderately optimistic” about the final quarter of the year.