Kvant-Telecom's revenue falls 8.5%, profit halves in 2025

According to TAdviser, which reviewed financial statements published on the Federal Tax Service website, internet provider Kvant-Telecom closed 2025 with revenue of 2.27 billion rubles, down from 2.48 billion rubles a year earlier — a drop of 8.5%. Net profit fell even more dramatically, from 218.5 million to 100.9 million rubles, a decline of 53.8%. That's nearly half.

A hole in the operator segment and rising expenses

The revenue decline was uneven. Income from operators (B2B2C) collapsed 32.4%, from 1.32 billion to 892.2 million rubles — the heaviest blow. At the same time, communication services for individuals grew 11.3% to 647.9 million rubles (up from 582.1 million in 2024). Channel leasing rose 29.1% to 270.3 million rubles (up from 209.4 million in 2024). Unlimited internet grew 10.3% to 197.8 million rubles (up from 179.3 million a year earlier).

Gross profit barely moved — 790 million rubles versus 802.3 million rubles, a decline of 1.5%. But profit from sales fell 44.1%, from 308.4 million to 172.5 million rubles. The culprit was administrative expenses, which jumped a quarter — from 493.9 million to 617.5 million rubles. Meanwhile, cost of sales fell 11.9%, from 1.68 billion to 1.48 billion rubles, but that wasn't enough to save the bottom line.

Balance sheet shrinks by a fifth

Pretax profit fell 52.4%, from 280.5 million to 133.4 million rubles. Income tax came to 32.5 million rubles, down from 62 million rubles a year earlier.

The company's balance sheet shrank 21.2% over the year, from 2.81 billion to 2.21 billion rubles. Non-current assets grew 7.2%, from 1.49 billion to 1.6 billion rubles, while current assets collapsed 53.3%, from 1.32 billion to 615 million rubles.

Accounts receivable fell 56.9%, from 1.25 billion to 539.8 million rubles, and accounts payable dropped 41.4%, from 1.52 billion to 892.8 million rubles. Equity rose 2.8% to 1.31 billion rubles. Short-term liabilities decreased 41%, from 1.54 billion to 906.7 million rubles, while long-term liabilities remained at zero.

The bottom line

The picture is clear: the provider is losing revenue, but the bigger problem is administrative expenses growing faster than income. The B2B operator segment is falling apart, and retail and channel leasing aren't making up the difference. The shrinking of current assets looks forced — the company is pulling in receivables and paying down creditors just to stay afloat.