Telenor Q2 Profit Dips

Norwegian telecom company Telenor ASA (TELNY.PK,TELN) Tuesday reported a dip in its net income for the second quarter, as revenues slid year-on-year, reflecting a decline in fixed legacy revenues in Norway

The Group's net income attributable to equity holders was 2.19 billion Norwegian kroner, compared to last year's 4.43 billion kroner.

Reported EBITDA before other items slid to 12.4 billion kroner from 13.2 billion kroner and the EBITDA margin was 45 percent. Meanwhile, organic EBITDA grew about 4 percent, as a result of higher subscription and traffic revenues.

Telenor's reported revenues for the second quarter slid to 27.2 billion Kroner from 29 billion kroner recorded in the same quarter last year.

During the quarter, mobile subscriber base grew by 1.7 million and the subscriber base was 170 million at the end of the quarter, the Group noted.

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