Telecom network operator Mobile TeleSystems (MTS) said its revenue increased 7.9 percent to RUB 108.1 billion in Q1 2016.

MTS has made an investment of RUB 18 billion (–28 percent) towards Capex (Capital expenditure) in Q1 2016.

MTS said it made an investment of RUB 16.49 billion in Russia, RUB 1.59 billion in Ukraine, RUB 99 million in Armenia, RUB 34 million in Turkeminstan and RUB 157 million in Uzbekistan. MTS Capex to sales ratio was 17.1 percent in Q1 2016 against 22.3 percent in 2015.

MTS said its subscriber base grew 3.8 percent to 108.3 million.

Net profit of MTS increased 33.3 percent to RUB 14.5 billion.

MTS CEO Andrei Dubovskov said: “We continue to see sustained demand for data throughout in our key telecom markets, which continues to drive growth in both Russia and Ukraine.”

MTS said its debt reduced to RUB 317 billion largely due to ruble appreciation in relation to its non-ruble denominated debt as well as some amortized payments in Q1.

Revenue of MTS in Russia rose 6.5 percent to RUB 96.3 billion, while mobile service revenue in Russia improved 1 percent to RUB 71.1 billion.

MTS is expecting 4 percent increase in group revenue and RUB 85 billion reduction in Capex during 2016.