MOSCOW, April 22 (RIA Novosti) - MegaFon, Russia's
third largest mobile operator, said on Wednesday its U.S. GAAP
net profit grew 30.5% year-on-year in 2008 to 44.32 billion
rubles ($1.3 billion).
MegaFon, which was established in 2002, said its
consolidated revenues in the reporting period increased 24.9%
to 175.45 billion rubles ($5.2 billion), and earnings before
interest, taxes, depreciation and amortization (EBITDA) rose
22.6% to 88.12 billion rubles ($2.6 billion).
"We carefully managed our cost structure in response to
slowing economic growth, which gave us the opportunity to
achieve a high EBITDA result for the year and also demonstrate
net profit growth of more than 30% for the year," CEO Sergei
The number of MegaFon subscribers increased 21.9% in 2008
to 43.56 million, the mobile operator said.