May 17 (SeeNews) - Digi Communications [BSE: DIGI], majority owner of Romanian company RCS&RDS, said on Tuesday its net profit rose to 27 million euro ($28.47 million) in the first quarter of 2022, from 23.3 million euro over the same period in 2021.
Digi’s consolidated revenues increased by an annual 21.1% to 360.6 million euro in the first three months of the year, the company said as part of an unaudited report filed to the Bucharest Stock Exchange, BVB.
The company's revenues in Romania rose by an annual 13.4% to 244 million euro during January-March, driven by an organic increase of mobile telecommunications services, cable television, fixed internet and data revenue generating units (RGUs).
Revenue in Spain jumped by an annual 42.3% to 110.7 million euro, mainly due to an increase in mobile telecommunication services RGUs.
The company’s operating profit also rose to 43.4 million euro during the first quarter, from 40.3 million euro in the like period of last year.
"Following the successful sale of our Hungarian operations we concentrated our efforts on the legacy markets: Romania, Spain, and Italy. We are also looking at opportunities beyond," Digi Communication CEO Serghei Bulgac said in a company press release.
In January, Hungarian IT company 4iG completed the acquisition of Digi Hungary from RCS&RDS. The transaction was valued at 625 million euro.
RCS&RDS is a Romanian IT infrastructure company, comprising two companies - Romanian Cable System (RCS), as well as Romanian Data Systems (RDS). Its parent company Digi Communications is also present in Spain, Italy and Portugal.
Digi is a member of BVB’s blue-chip BET and BET-TR indices.
Its shares traded down 0.50% at 40 lei ($8.61/ 8.16 euro) at 1420 CET on Tuesday, on the BVB.
(1 euro = 4.9477 Romanian lei)
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