Embratel second-quarter income down 13.7% on higher expenses

25 Jul 2011

Brazilian long-distance telecoms operator Embratel Participacoes has reported a 13.7% fall in net income for the three months ended 30 June 2011 to BRL177.8 million (USD114.4 million), down from BRL206.0 million in the corresponding year-earlier period due to an increase in general expenses. Dow Jones Newswires reports the carrier posted second-quarter net revenue of BRL3.03 billion, up from BRL2.74 billion in 2Q10, although expenses climbed 20.2% to BRL175.4 million from BRL145.9 million previously. EBIDTA slumped 31.5% to BRL811 million.