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Telenor Q3 loss widens on writedowns, revenues still growing
2016-10-26 08:45:00| Telecompaper Headlines
(Telecompaper) Telenor saw its net loss for the third quarter widen to NOK 4.82 billion from NOK 1.77 billion a year ago, after writedowns on operations in India and stake in Vimpelcom. The company took an impairment charge of NOK 4 billion on its Indian licences after the recent spectrum auction there, while the Vimpelcom stake suffered total writedowns of NOK 2.4 billion after Telenor sold part of its shares in the Russian operator during the quarter. Telenor still reported a small increase in underlying results. Revenues rose to NOK 32.79 billion from NOK 31.84 billion a year earlier, with organic growth of 1.8 percent. EBITDA increased to NOK 12.46 billion from NOK 11.85 billion, and the margin increased to 38.0 percent from 37.2.
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Category:Telecommunications