7/19/2016, 9:20 AM (Source: TeleTrader)
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Telenor quarter revenues tick up 0.6%

Telenor Group reported 0.6% higher second quarter revenues at 32.47 billion Norwegian kroner (€3.47 billion, $3.84 billion). Profit after taxes was 1.11 billion Norwegian kroner (€118 million, $131 million), a huge fall compared to 3.45 billion kroner (€368 million, $407 million) in the same period a year ago.

"Organic mobile subscription and traffic revenues were up by 4%, while total revenues were impacted by lower handset sales," said the press release of the Fornebu, Norway-based telecommunications operator. The telecom group said that "3.4 million mobile subscribers were added during the quarter, taking the total mobile customer base to 211 million."

The company said it made money with solid new tariffs in Norway, Denmark and Sweden after removing roaming. There was a strong growth of revenue in Bangladesh, India and Pakistan. Three-year old investment in Myanmar (pictured) attracted 17 million subscribers so far.

Mobile and non-mobile revenues increased in the quarter, while fixed telephony, internet, TV and data services decreased.

The company revised its guidance for the second half of 2016. "We expect an organic revenue growth in the range of 1% to 2% and an improved EBITDA margin of around 35%. Our expectation for the capex to sales ratio, excluding licences, is lowered to around 17%."

Shares of Telenor 3.22% higher at 147.4 kroner at 9:15 a.m. CET on Tuesday following earnings report.

Breaking the News / ZR