Norwegian telecom company Telenor reported operating earnings well behind forecasts on Wednesday but predicted improving profitability and rising revenues in 2012.
State-controlled Telenor, one of the world's biggest mobile operators with around 140 million subscribers across Europe and Asia, said earnings before interest, taxes, depreciation and amortisation (EBITDA) was Rs 5,958 crore (7.08 billion crowns) in the quarter, well short of forecasts for Rs 6,404 crore (7.61 billon crowns) in a poll of analysts.
The company also reported a Rs 2,121 crore (2.52 billion-crown) net loss for the quarter due to a previously disclosed Rs 3,450 crore (4.1 billion-crown) writedown related to its Indian operations after the Supreme Court ordered 122 telecom licenses revoked, including 22 held by Telenor, because of 2G telecoms scandal.
