Turkcell Q3 net profit up 50.5%

Mobile operator Turkcell posted a 50.5% rise in net profit year-on-year to USD603.8 million in the third quarter of 2008. Revenue was up19.3% to USD2.06 billion, and earnings before interest, tax, depreciation and amortisation (EBITDA) rose 8.6% compared to the same period last year to USD837.8 million. The operator’s subscriber base stood at 36.3 million at the end of the quarter, while its churn rate rose to 6.2%. Average revenue per user (ARPU) increased by 13.1% from a year earlier to USD17.3.

Turkcell is currently the number one mobile operator in Turkey, but it is facing increasing competition from Vodafone and Avea, which is expected to increase when number portability is introduced on 9 November.