Telecom Argentina Q3 net profit up 36%

4 Nov 2011

Telecom Argentina has posted consolidated net revenues of ARS4.77 billion (USD1.12 billion) for the third quarter ended 30 September 2011, an increase of 27% year-on-year, Dow Jones Newswires writes. Growth was largely spurred by strong mobile and broadband sales, helping to boost net profit by 36% to ARS602 million from ARS444 million in the third quarter of 2010. Domestic wireless subscribers grew 11% year-on-year to 17.786 million, while the number of mobile and WiMAX customers at its Paraguayan unit Nucleo rose 12% to 2.078 million. Broadband customers totalled 1.505 million at 30 September 2011, an increase of 13% year-on-year.