March 22 (SeeNews) - Bulgarian telecommunications group BTC said on Tuesday its profit more than tripled to 8.8 million levs ($4.9 million/4.5 million euro) in the first quarter, from 2.7 million levs in the corresponding period of 2016.
Total revenue edged down by 0.3% year-on-year to 211.1 million levs in the January-March period, BTC, operating under the brand name Vivacom, said in a filing to the London Stock Exchange.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) fell by 3.7% on the year to 77.2 million levs in the period under review.
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)