Brazilian group Algar Telecom (formerly CTBC) reported net profit of BRL25 million (USD15.5 million) in the three months ended 31 March 2011, up 5.6% on the corresponding period a year ago. Gross revenues increased 10.5% to BRL510 million, while net revenues climbed a similar percentage to BRL395 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 5.6% year-on-year to BRL96 million. Algar Telecom closed out March 2011 with 819,000 fixed lines in service, up 13.7% y-o-y, while the broadband subscriber base increased 15.3% to 285,000 from 247,000 previously.