(RTTNews) - Russian telecommunications service provider Vimpel-Communications (VIP: News ), known as OJSC VimpelCom, reported Tuesday a surge in its third-quarter profit, in Russian rubles, reflecting strong mobile as well as fixed revenues on higher subscribers. In US dollar terms, profit for the quarter grew 60.2%, despite lower revenues.

The Moscow-based company's third-quarter net income attributable to VimpelCom surged 107.5% to RUR 13.51 billion or RUR 261.01 per share from RUR 6.51 billion or RUR 128.68 per share in the year ago quarter. On a per American Depository share, or ADS equivalent basis, net income attributable to VimpelCom was RUR 13.05, compared to RUR 6.43 per ADS in the year ago quarter.

The company noted that its latest quarter results included a modest RUR 0.7 billion net foreign exchange gain due to the strengthening of the ruble.

In the terms of US dollar, third-quarter net income attributable to VimpelCom grew 60.2% to US$431 million or US$8.52 per basic share from US$269 million or US$5.31 per basic share last year. Net income attributable to VimpelCom per ADS equivalent was US$0.43, higher than prior year's US$0.27 per basic ADS equivalent.

On average, two analysts polled by Thomson Reuters expected the company to post earnings of US$0.45 per share for the quarter. Analysts estimate typically exclude special items.

Sequentially, net income attributable to VimpelCom, in Russian rubles, fell 40.2% from RUR 22.599 billion, or RUR 446.43 per basic share, or RUR 22.32 per basic ADS equivalent. In US dollar terms, attributable net income dropped 38.6% from second quarter's US$702 million or US$13.86 per basic share or US$0.69 per basic ADS equivalent.
The company's third-quarter net operating revenues rose 3.5% to RUR 71.34 billion from RUR 68.93 billion in the same quarter last year, and 3.3% from RUR 69.04 billion in the preceding second quarter. The company pointed out that the revenue growth demonstrated the strength of its core business.

In US dollars, net operating revenues for the quarter dropped 19.9% to US$2.28 billion from last year's US$2.84 billion, while increased 6.3% from US$2.14 billion recorded in the second quarter. Wall Street analysts projected revenues of US$2.28 billion for the quarter.

On a geographical basis, third-quarter net operating revenues from Russia grew 4.1% to RUR 61.21 billion from prior year's RUR 58.82 billion. Mobile revenues in the region increased 4.3% year-over-year to RUR 51.50 billion, and fixed revenues climbed 25.9% to RUR 13.58 billion.

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