CORRECTED - Mexico's Megacable posts 15 pct dip in net profit

(Corrects number of telephone clients in paragraph 4)

* Revenues up over same quarter last year

* Costs up as well

MEXICO CITY, Oct 26 (Reuters) - Megacable, Mexico's largest cable television operator, posted a 15 percent dip in third-quarter net profit on Monday, hurt by higher operating costs and more tax provisions.

Revenues from services were 1.708 billion pesos ($126 million), up 16 percent over the same quarter last year, the company said in a statement.

Megacable's (MEGACPO.MX) net profit for the quarter was 442 million pesos.

Guadalajara-based Megacable said it grew its revenue generating units by 17 percent in the quarter, reaching a total of more than 1.5 million video clients, nearly half a million Internet customers and almost 393,000 telephone clients.

Mexican cable companies are rushing to stake out territory in telephone and Internet services that are sold as packages with their traditional video businesses.

This year, Megacable teamed up with cable operators owned by media giant Televisa (TLVACPO.MX) to offer TV, Internet and phone service bundled together and aimed at low-income earners. ($1=13.5035 pesos at end-Sept) (Reporting by Noel Randewich, editing by Leslie Gevirtz)