Vimpelcom, Russia's No.2 mobile phone operator, reported a 107.5 percent rise in third quarter net profit as the rouble firmed versus the same period of 2008 when it suffered a massive foreign exchange loss.
The company, part-owned by Norway's Telenor, said net profit amounted to 13.51 billion roubles ($469.3 million at current rate), below a 16.36 billion average forecast in a Reuters poll, but within a wide range of 11.5 billion to 19.6 billion.
Vimpelcom also said it had revised its capital expenditure forecast for 2009 to 10-12 percent of sales from 12-15 percent previously to take account of the rouble appreciation.
Sales rose 3.5 percent year-on-year to 71.34 billion roubles, broadly in line with market expectations, Vimpelcom, which reports in roubles, said in a statement.
The Russian economy has recently shown fresh signs of its climb out of recession, with retail sales and real disposable incomes rising on the month in October.
Operating income before depreciation and amortisation (OIBDA) increased 7 percent to stand at 35.98 billion roubles for an OIBDA margin of 50.4 percent.
Analysts forecast revenue of 71.59 billion roubles, OIBDA of 35.91 billion roubles and OIBDA margin of 50.2 percent.
(Reporting by Maria Kiselyova; Editing by Dmitry Sergeyev and Simon Jessop)