Telenor reports profits boosted by Asian growth

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FE Team | Published: May 05, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

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OSLO, May 4 (AFP): Norwegian telecoms operator Telenor reported Wednesday sharply raised profits thanks to growth in its Asian markets, but saw difficulties in two of its most important markets Russia and India. In the first quarter, Telenor posted a net profit up 169 per cent from the equivalent figure last year to 2.8 billion kroner (356.1 million euros, $530.3 million) while analysts surveyed by Dow Jones Newswires expected 2.9 billion. "The Asian operations were the main contributors to subscriber and revenue growth," Telenor said During the last quarter, the operator gained some 9.0 million subscribers worldwide and its sales grew 7.8 per cent to 24.1 billion kroner. The company's own Northern European domestic market meanwhile stagnated.