Megafon Third-Quarter Profit More Than Doubles to $252 Million
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OAO Megafon, Russia's third-largest mobile phone operator, more than doubled profit in the third quarter as the number of subscribers grew and it paid loans.
Net income increased to $252 million from $93.7 million a year earlier, the Moscow-based company said in a Regulatory News Service statement today. Sales increased 62 percent to $1.06 billion under U.S. accounting standards.