TIM Brasil reports 29.5% rise in Q1 profit

Telecom Italia’s Brazilian telecoms unit TIM Participacoes (TIM Brasil) has reported a 29.5% year-on-year rise in net profit for the three months ended 31 March 2012 to BRL276.4 million (USD146.3 million) driven by solid subscriber growth and rising revenue. TIM Brasil, the nation’s second largest carrier by subscribers, increased its mobile base by 27.2% y-o-y to 67.2 million, as gross additions topped 9.9 million lines and net additions reached 3.1 million. The carrier booked top line revenue of BRL4.50 billion (+19.1% y-o-y), while net service revenues grew 15.9% y-o-y and (gross) data revenue surged 56.1% to BRL1 billion as smartphone penetration reached 31.1% of the total base, compared to 12.6% a year earlier

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OVETEL TIM Brasil reports 29.5% rise in Q1 profit