TIM Brasil posts rising Q1 profits on subs gains

4 May 2010

The Brazilian arm of European heavyweight Telecom Italia, TIM Participacoes (TIM Brasil), has increased its first-quarter profits on the back of a rise in subscriber numbers. TIM Brasil posted net profit of BRL30 million (USD17.4 million) in the three months ended 31 March 2010, reversing a loss of BRL165 million in the same year-ago period. However, the figure fell short of the average estimate of BRL69.2 million in adjusted net income in a poll conducted by Bloomberg. The operator boosted its mobile user base by 17% year-on-year to 42.4 million, on sales that climbed 5.3% year-on-year to BRL3.15 billion – including revenues attributed to long-distance operator Intelig Telecomunicacoes, which TIM Brasil agreed to buy in April 2009.

Brazil, TIM Participacoes (TIM Brasil)