Russia's Sistema Q3 net profit up 67 pct

MOSCOW Wed Nov 21, 2012 3:17am EST

MOSCOW Nov 21 (Reuters) - Russian oil-to-telecoms conglomerate Sistema reported on Wednesday a net profit of $532.2 million for the third quarter, up 67 percent from a year ago.

Net income, excluding an impairment charge related to Sistema's Indian operations, doubled year-on-year to $653.2 million, Sistema said in a statement.

The company, whose biggest assets are Russia's top mobile phone operator MTS and mid-sized oil producer Bashneft , also said revenues rose 1 percent to $8.8 billion, impacted by a weaker rouble - its main operating currency - against the dollar.

Underlying revenues were up 11.3 percent in rouble terms.

Sistema also said it would recommend a substantial increase in dividend payout from its 2012 profits.