Telefónica del Perú reports strong results

23 Oct 2006

Telefónica del Perú (TdP) has posted net profit of PEN117 million (USD32.2 million) for the third quarter of 2006, up 39.2% on the corresponding period last year. Revenue rose 9.6% to PEN1.0 billion. The results were boosted by the May 2006 merger of the telco with its former holding company Telefónica Empresas Perú. Excluding the amalgamation, revenue grew 5.2% year-on-year. Operationally speaking, TdP reported 2.54 million fixed lines installed, up 6.1% from 2.46 million in September 2005. According to BNamericas, TdP is currently renegotiating its concession contract with the government after congress approved a series of controversial measures to eliminate its use of basic fixed line charges. President Alan García did not sign the bill, but opted for renegotiation.

Peru, Telefonica del Peru (TdP, Movistar)