TIM Participacoes 2Q Net Profit BRL349.9 Million Vs BRL125.9 Million

Date : 08/03/2011 @ 6:35AM
Source : Dow Jones News
Stock : Tim Participacoes S.A. American Depositary Shares (Each Representing 5 ) (TSU)
Quote : 16.365  0.135 (0.83%) @ 11:36AM

TIM Participacoes 2Q Net Profit BRL349.9 Million Vs BRL125.9 Million

Tim Participacoes (NYSE:TSU)
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Brazilian mobile phone company TIM Participacoes SA (TSU, TCSL4.BR) said its net profit more than doubled in the second-quarter as revenue increased and costs with amortization and depreciation fell in the period.

The Brazilian unit of Telecom Italia SpA (TI, TIT.MI) late Tuesday reported second-quarter net profit of 349.9 million Brazilian reais ($223 million), up from BRL125.9 million a year earlier.

The company's net revenue rose to BRL4.25 billion from BRL3.5 billion a year earlier.

TIM's costs with amortization and depreciation fell to BRL608.8 million from BRL771.4 million in the year earlier period.

TIM said earnings before interest, taxes, depreciation and amortization, or Ebitda, rose 12.7% to BRL1.13 billion.

TIM ended the period as Brazil's third-largest mobile phone operator with 55.5 million clients, up 25% from the year-earlier period.

The company invested BRL719 million in its operations in the second-quarter, up 38.2% from the same period of 2010.

-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3544-7071; rogerio.jelmayer@dowjones.com




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