Orascom Telecom swings to Q3 profit

CAIRO Wed Nov 14, 2012 2:30am EST

CAIRO Nov 14 (Reuters) - Egypt-based Orascom Telecom reported third-quarter net profit attributable to equity holders of $106 million, reversing a net loss of $1.5 million for the same period a year earlier, the firm said in a statement on Wednesday.

Orascom, which is controlled by Russia's Vimpelcom, said profits were mainly driven by foreign exchange gains.

Revenues for the quarter stood at $885 million, the firm said, while earnings before interest, tax, depreciation and amortisation (EBITDA) stood at $425 million. Total subscribers exceeded 85 million, up 14 percent from a year earlier.