Slim's Telint posts 20 pct drop in quarterly net
MEXICO CITY, July 23 |
MEXICO CITY, July 23 (Reuters) - Latin American telecommunications operator Telmex Internacional, controlled by billionaire Carlos Slim, posted a 20 percent drop in second-quarter net profit on Friday, but sales and operating profits grew.
Telmex Internacional, known as Telint, said its net profit in the quarter was 3.47 billion pesos ($270 million), down from 4.33 billion in the year-ago period when it had a significant gain from exchange-rate fluctuations.
In June, Slim merged his Latin American telecom assets Telint TELINTL.MX and Telmex TELMEXL.MX with leading Latin America wireless operator America Movil (AMXL.MX), which he also controls.
America Movil plans to consolidate Telint's financial results from July.
Telint's revenues grew to 48.9 billion pesos in the second quarter, up 15 percent over the year-ago period.
Earnings before interest, tax, depreciation and amortization were 13.43 billion pesos, up 35 percent. ($1 = 12.94 pesos at end June) (Reporting by Noel Randewich; editing by Andre Grenon)
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