August 8 (SeeNews) - Bulgarian telecommunications group BTC said on Tuesday it turned to a consolidated net profit of 47.2 million levs ($28.5 million/24.1 million euro) in the first half of 2017, compared to a net loss of 4.4 million levs in the like period of 2016.
Consolidated revenue rose to 432.1 million levs in the hal year ended June 30, from 4 million levs in the corresponding period of last year, BTC, which operates under the brand name Vivacom, said in an interim financial statement.
Depreciation and amortization costs fell to 100.3 million levs, compared to 124.3 million levs the year before.
Other operating expenses increased to 106.4 million levs in the review period from 102.2 million levs last year.
The number of Vivacom subscribers rose 2.4% year-on-year to 3.1 million as at end-June. BTC is the third largest telecommunications operator in Bulgaria in terms of number of subscribers.
On the mobile segment, BTC competes with the Bulgarian units of Norway's Telenor and Telekom Austria, as well as with 4G operator Max.
Bulgaria has a population of around 7.2 million.
(1 euro = 1.95583 levs)