MegaFon, Russia’s second largest cellular operator by subscribers, has reported consolidated revenues of RUB242.6 billion (USD8.3 billion) for the twelve months ended 31 December 2011, a 12.6% increase on the RUB215.5 billion generated in 2010. Operating income before depreciation and amortisation (OIBDA) grew 3.1% to RUB100.8 billion last year, and net income increased 11.4% to RUB43.6 billion.
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OVETEL MegaFon FY11 revenues increase 12.6% to RUB242.6bn
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