February 9, 2012 5:00 AM GMT
Telenor's annual profit is down 6.8 billion Norwegian Kroner year-on-year to 7.9 billion Kroner in 2011 - roughly half that it achieved in 2010. A glance at the firm's results points to higher costs across the board for the year, which offset decent subscriber growth.
It's bad news given the firm is facing higher costs in India following the revokation of 22 licenses held by local subsidiary Uninor (in terms of the liklihood it will have to buy those licenses again or shut the unit).
The bulk of new customers came from Asia Pacific during the year, while annual revenue growth was fuelled by demand for data services.