Telemar profits double...well almost!

30 Apr 2004

Brazilian fixed line operator Telemar reported profits of BRL220 million (USD74.8 million) for the first quarter of 2004, up from BRL112 million a year ago. Gross revenues stood at BRL5.1 billion at the same date, up 16% in the year, with data services accounting for BRL364 million, and long-distance services BRL885 million. EBITDA reached BRL1.7 billion, up 13% in the year. The company reported a net debt of BRL8.4 billion, down from BRL1.6 billion the previous year. Telemar claimed 284,000 broadband customers at the end of the quarter, while its mobile unit Oi added 515,000 subscribers during the three-month period to raise its total base to 4.4 million.

Brazil, Oi