ASTANA, Kazakhstan, December 2. The Kazakhtelecom group of companies (largest telecom operator in Kazakhstan) has demonstrated growth in all main financial and economic indicators for 9 months of 2023, Trend reports.
Thus, the group’s revenue increased during this period by 30 billion tenge (about $65 million) and exceeded 504 billion tenge or about $1.1 billion (475 billion tenge or about $1.03 billion for the first 9 months of 2022).
As the company noted, growth was achieved due to increased revenues in both the fixed-line and mobile segments.
At the same time, the company's EBITDA (earnings before interest, taxes, depreciation, amortization and management) improved by 3.2 percent, and its profit margin relative to revenue was 46.5 percent.
In addition, net profit also increased and amounted to 89.3 billion tenge or about $194.2 million (88.7 billion tenge or about $192.8 million for the first 9 months of 2022).
As noted by the chief financial director of Kazakhtelecom JSC Lyudmila Atamuratova, such financial indicators were achieved against the backdrop of a significant increase in capital costs.
According to her, the group of companies made a lot of investments in 2023 to implement a large-scale project for the introduction and development of 5G in the country.
"But thanks to the implemented conservative policy and improvement of operating activities, business processes, cost optimization, and increased efficiency in general, we managed to close the third quarter with, in my opinion, quite good results," she noted.