Telenor Q4 net income jumps 27% to $423 mn

Norwegian telecom operator Telenor today reported a 27 per cent growth in net income at 2.49 billion Kroner ($423 million) for the fourth quarter of 2009, helped by strong contribution from associated companies.

In the year-ago period, the company had a net income of 1.96 billion kroner, Telenor said in a statement.

Revenues declined to 24.19 billion kroner in the October-December quarter from 25.86 billion kroner in the same period of 2008.

Telenor's profit from associated companies increased to $801 million in the quarter under review.

"There have been improvements in the Asian region, where subscriber growth picked up in all our operations. Telenor in Pakistan continued the positive development and DTAC in Thailand delivered strong results combined with revenue recovery.

"The listing of Grameenphone (of Bangladesh) in November has been met with overwhelming interest in the market," Telenor said.

Uninor, a joint venture between India's Unitech Wireless and Telenor, has a operating profit of 755 million kroner in the October-December period.