May 10 (SeeNews) - North Macedonia's Makedonski Telekom [MSE:TEL] said that its net profit rose by an annual 49% to 466.4 million denars ($9.2 million/7.5 million euro) in the first quarter due to higher revenue and lower expenses.
Makedonski Telekom's operating revenue increased by 2.5% year-on-year to 2.7 billion denars in the first three months of 2021, the telecommunications company said in an interim financial statement filed with the Skopje bourse last week.
Domestic sales increased by 3.7% to 2.6 billion denars, while sales abroad fell 24.7% to 81.9 million denars.
The company's total operating expenses totalled 2.2 billion denars in the January-March period, down 3% on an annual comparison basis.
Makedonski Telekom's shares closed 1.2% higher at 330 denars on Monday on the Macedonian Stock Exchange (MSE).
(1 euro = 62.00 denars)