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Rostelecom Jumps Most in Week as Income Rises on Subscribers

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July 13 (Bloomberg) -- OAO Rostelecom, Russia’s long-distance phone operator, gained for the first time in three days as first-quarter profit jumped 38 percent after broadband and paid television subscribers rose.

The stock added 1.1 percent to 119.28 rubles by the close in Moscow, the biggest gain since July 3.

Consolidated revenue increased 17 percent from the three months a year earlier, according to an e-mailed statement from the company. Net income came in at 14.6 billion rubles.

“Rostelecom’s growth during the quarter was supported by the strength of broadband and interactive TV segments,” Alexander Provotorov, Rostelecom’s president, said in the statement.

Broadband subscribers jumped 13 percent to 8.4 million and paid television customers grew 8 percent to 6 million from a year earlier, according to the statement.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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