Russia's Rostelecom profits drop over 72 percent

A disposal gain and rising costs contributed to Russian service provider Rostelecom's 72.5 percent nine-month profit drop for 2009.

The Russian service provider reported earnings of $107 million, a decline from the $388 million the company reported in 2008--a number helped by the $284 million sale of its piece of wireline service provider Golden Telecom.

Operating profit declined 36.6 percent to $129 million amidst flat revenues and a 6 percent jump in operating costs--factors it attributes to rising international traffic transit costs.  

For more:
- Reuters has this article

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