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OTE Telecom posts 2.3 percent drop in Q3 core profit
November 9, 2017 / 8:21 AM / a month ago

OTE Telecom posts 2.3 percent drop in Q3 core profit

ATHENS, Nov 9 (Reuters) - Greece’s biggest telecoms operator OTE posted on Thursday a 2.3 percent drop in third-quarter core profit, impacted by ‘challenging conditions’ in its international operations.

OTE, the former national monopoly and now 40 percent owned and managed by Germany’s Deutsche Telekom, said earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 348.7 million euros ($404.70 million) in the three months to September, down from 357 million euros a year earlier.

Net profit rose 2.4 percent to 76.5 million euros, the group said. ($1 = 0.8616 euros) (Reporting by Athens newsroom)

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