Telefonica’s Telesp reports 7.2% rise in Q3 net profit

12 Nov 2010

Telecomunicacoes de Sao Paulo (Telesp), which is controlled by Telefonica of Spain, recorded net profit of BRL647.4 million (USD227 million) in the three months to 30 September 2010, up 7.2% from the same period of 2009, partly the result of a rise in local service revenue. Third-quarter net revenue topped BRL5.38 billion, up from BRL5.36 billion a year ago, while earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped 10% to BRL1.29 billion. The EBITDA margin, a key indicator of profitability, narrowed to 32.6% from 36.8% previously. Telesp reported CAPEX of BRL547 million in the period under review, compared to BRL500 million in 3Q09.

Brazil, Telefonica Brasil (Vivo)