Brazil's Vivo 1Q Net BRL191.9 Million Vs BRL133 Million

Brazil's leading cellular operator Vivo Participacoes (VIV) Monday reported a first-quarter net profit of 191.9 million Brazilian reals ($110 million), up from BRL133 million in the first quarter of 2009.

The company attributed its net profit, among other factors, to a rise in revenue.

Vivo's first-quarter net revenue rose 4.8% to BRL4.23 billion from BRL4.04 billion in the year-earlier period.

The company's earnings before interest, taxes, depreciation and amortization, or Ebitda, was BRL1.27 billion, up from BRL1.22 billion in the first quarter of 2009.

The Ebitda margin, a measure of profitability over net revenue, was 30.1% in the quarter, down slightly from 30.4% in the year-earlier period.

Vivo is jointly controlled by Spain's Telefonica SA (TEF) and Portugal Telecom SGPS SA (PT).

-By Rogerio Jelmayer, Dow Jones Newswires; 5511-3544-7071; rogerio.jelmayer@dowjones.com

Telefonica Brasil (NYSE:VIV)
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