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MTS Reports Revenue Growth of 8.4% in Q3 2021

November 17, 2021, 17:24 (UTC+3)|
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MTS, Russia's largest telecom operator, has released its financial results for the third quarter of 2021. The company's consolidated revenue increased by 8.4% in the third quarter of 2021year-on-year to $1.8 billion (138.2 billion rubles).

The increase is due to growth in the following areas: telecommunications, financial technology, media, retail, as well as cloud and digital B2B solutions, MTS said in a statement.

MTS

MTS's net profit in the third quarter of 2021 decreased by 12.5% ​​compared to the same period in 2020, amounting to $224.8 million (16.5 billion rubles). At the same time, net profit for the first nine months of this year increased by 3.2%, to $681.5 million (49.9 billion rubles).

Other revenue indicators include:

  • fixed services in Russia - an increase of 10.7%, up to $697.3 million (51.2 billion rubles);
  • mobile services in Russia - an increase of 3.9%, up to $3.4 billion (256.9 billion rubles);
  • fintech segment - an increase of 40%, to $171.5 million (12.6 billion rubles);
  • retail and e-commerce - growth of 5.4%, to $302.1 million (22.2 billion rubles).

Original (in Russian)

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