Telenor raises 2017 margin forecast after India exit

NEW DELHI:Norwegian telecoms firm Telenor slightly raised its profit margin forecast for this year as it posted core earnings in line with expectations on Thursday, according to Reuters.

Its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were 11.5 billion crowns ($1.33 billion), against expectations in a Reuters poll for 11.5 billion crowns and against 11.7 billion at the same time a year ago.

Telecom operator has raised its EBITDA margin forecast for 2017 to 37 percent from an earlier view of 36 percent. Its outlook was adjusted to reflect the sale of its struggling Indian unit to Indian telecoms giant Bharti Airtel.