Russian mobile firm MTS reports $55.7 mln US GAAP loss in 1Q09

MOSCOW, May 22 (RIA Novosti) -- MTS, Russia's largest mobile phone operator, has reported a US GAAP net loss of $57.7 million.

The company's sales in January-March were $1.809 billion, down 24% year-on-year.

Operating profits fell 34.1% to $464.2 million.

MTS President Mikhail Shamolin attributed the loss to recent dollar-ruble exchange rate fluctuations, which affected its dollar-denominated debt. Without this, he said, the firm's net profit would have been $404.7 million.