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Vimpelcom Reports Net Profit of $445 million in Q3; Mobile Data Grew 28% YoY

Vimpelcom Reports Net Profit of $445 million in Q3; Mobile Data Grew 28% YoY Image Credit: Vodafone

VimpelCom, a leading global provider of telecommunications and digital services headquartered in Amsterdam and serving over 200 million customers, reported $USD445 million in net profits in the thrid quarter of the year.

Service revenue and underlying EBITDA rose by 0.6% in the quarter to reach $USD896 million, with particularly strong performances in Pakistan and Ukraine. Vimpelcom also continue to grow mobile data revenue across its footprint, by 28% year on year.

Vimpelcom which has operations in Russia, Italy, several Soviet republics and other emerging markets such as Pakistan, Bangladesh and Algeria, however posted 3 percent drop in revenue to $USD2,372 million in the quarter.

Vimpelcom said it recorded strong results in Pakistan and Ukraine, where revenue climbed by 49 percent to $PKR38.5 billion and nine percent to $UAH3.922 billion, respectively to offset continued weakness in Algeria, where revenue went down by 13 percent to $DZD29 billion.

Jean-Yves Charlier, CEO of Vimpelcom, said "VimpelCom reported stable performance in the third quarter of this year, in line with expectations. Our business in Italy also reported solid results, with EBITDA growth of 11%, prior to the closing of the joint venture,which is expected shortly."

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Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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