Embratel back in black

8 May 2003

Brazilian long-distance telco Embratel has reported a net profit of BRL11 million for the first quarter of 2003, compared to a BRL36 million loss in the same period of 2002. The improved bottom line was a result of operational efficiencies and a number of new co-billing agreements with local telephony operators. On the debt front, Embratel completed a restructuring programme; at the end of the quarter the operator had a total outstanding debt of BRL4.6 billion.