Kazakhtelecom announces 9M 2022 operating results

23.11.22 16:44
/KASE, November 23, 2022/ – Kazakhtelecom JSC (Astana), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated November 23, 2022: quote Kazakhtelecom JSC net profit for the first 9 months of this year exceeded KZT 88 billion, having increased by 2.4% compared to the same period last year. Whereas, according to the previously published consolidated statements, in the first half of 2022, the telecom operator showed a decrease in net profit by 13% to KZT 50.5 billion, which was due to increase in costs aimed at support and improvement of financial wellbeing of employees. Moreover, in the first quarter of the year during tragic January events the company took unprecedented measures supporting its subscribers. However, in the 3rd quarter, the company managed to completely neutralize these negative deviations. Meanwhile in early September, as part of the support measures package, the country’s largest telecom operator exempted residents and entrepreneurs of the Auliekolsky district of Kostanay region affected by large-scale forest fires from subscription fees until the end of this year. In addition, the debts and penalties of the people and businesses were written off. Despite the decline of financial indicators after implementation of all the social initiatives both in the first quarter and in the autumn the company managed to achieve and improve the net profit result for the same period of 2021. unquote The complete press release is available on: - https://kase.kz/files/emitters/KZTK/kztk_relizs_231122.pdf – in Russian; - https://kase.kz/files/emitters/KZTK/kztk_info_231122_en.pdf – in English. [2022-11-23]