Telmex 3Q profits down 17% as Embratel is hit by taxman

26 Oct 2006

Mexican-based fixed line group Teléfonos de México (Telmex) has posted a 17% decline in third quarter net profit, hurt by an extraordinary charge at its Brazilian operations. Telmex posted net profit of MXN6 billion (USD546 million) in the three months ended 30 September 2006, after Embratel in Brazil took a one-off tax charge worth USD230 million. Third quarter revenue was MXN43.3 billion, steady year-on-year, but EBITDA fell 14% to MXN16.8 billion. The group ended September with 18.60 million fixed lines in Mexico, including 1.59 million broadband subscribers.

Mexico, Telefonos de Mexico (Telmex)