Russian cellco MegaFon has posted net income of RUB1.7 billion (USD57 million) for the second quarter of 2012, down 85% year-on-year following foreign exchange losses. Revenues rose 14% year-on-year to RUB66.8 billion while earnings before interest, tax, depreciation and amortisation (EBITDA) came in 12% stronger at RUB28.3 billion. The results were boosted by data traffic doubling compared with the corresponding period last year, and the company's subscriber base increasing by 7.7% to stand at more than 62 million on 30 June 2012.
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OVETEL MegaFon profits fall on currency losses
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