Net Servicos Q3 earnings up more than 300%

19 Oct 2007

Brazilian pay TV and broadband internet provider Net Servicos has reported net profit of BRL51 million (USD28.2 million) for the three months to 30 September, up from BRL12 million in the same period last year, writes BNamericas citing a company statement. The operator’s revenues were BRL745 million, up 28% year-on-year, and consolidated EBITDA (excluding non-recurring equalisation) climbed 28% to BRL203 million. The EBITDA margin was unchanged at 27%. Operating costs rose 35.8% to BRL364 million compared to BRL255 million in the year-ago quarter.

At the end of September Net had 2.4 million pay-TV subscribers, up 17% y-o-y, and 1.3 million broadband subscribers (+71%). In the voice segment, Net ended the third quarter with 469,000 customers, up 308% compared to same time last year.