OTE Telecom second-quarter profit inches up, cost saving offsets COVID-19 impact

ATHENS: OTE Telecom, Greece’s biggest telecoms telecoms operator, reported on Thursday a 0.8% rise in second-quarter core profit, as cost cutting offset the impact of COVID-19 pandemic on revenue from mobile services.

OTE Telecom, which is 46% owned and managed by Deutsche Telecom, said earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 321.3 million euros ($381.45 million) in the second quarter, up from 318.8 million in the same period last year.