ECONOMY

OTE Q3 core profit drops 5.7 percent

ote-q3-core-profit-drops-5-7-percent

Greece's biggest telecoms operator OTE posted on Thursday a 5.7 percent drop in third-quarter core profit, hurt by lower revenues from its domestic mobile business and tough competition in Romania.

OTE, which is 40 percent owned and managed by Germany's Deutsche Telekom, said earnings before interest, tax, depreciation and amortisaton (EBITDA) dropped to 350.1 million euros in the third quarter from 371.1 million in the same period last year.

[Reuters]