Public joint-stock company Ukrtelecom saw UAH 286 million of net profit in 2014, which was two times up on 2013, the company said in a press release issued on Tuesday.

Net revenue rose by 0.1%, to UAH 6.493 billion (VAT not included). Revenue from telecommunications services increased to UAH 6.241 billion, a rise of 0.6% year-over-year. Revenue from Internet access services grew by 5%, to UAH 1.4 billion. As of late 2014, Ukrtelecom serviced 1.67 million Internet users. The amount of capital investment allocated to the development of telecommunications infrastructure totaled UAH 437 million (VAT included).

"Growth was seen first thanks to the increase of revenues from the provision of Internet and international communications services. The loss of assets in Crimea and the restricted operation of the company in eastern Ukraine affected Ukrtelecom's revenue," reads the report.

Last year, the operator optimized technical servicing of equipment, fuel and energy consumption, conducted current and overhaul repair, and provided guard and office services.

Ukrtelecom has assessed the total effect from unpredicted losses due to the difficult economic and political situation in Ukraine at around UAH 170 million.