America Movil sees net profit rebound in first-quarter

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MEXICO CITY, April 27 : America Movil on Tuesday said that its net profit rebounded after a loss in the first quarter a year earlier.

The company's net profit rose to 1.81 billion pesos in the first quarter compared with a loss of 28.9 billion pesos for the same period a year earlier, according to a statement filed with the Mexican stock exchange.

Operating income was 41.1 mln pesos, an increase of 5.7%, while comprehensive financing costs fell 55%.This resulted in a significant increase of net profit, the company said.

The company, which is controlled by the family of Mexican billionaire Carlos Slim, reported revenue of 248.19 billion pesos, down about 0.8% year over year.

The company added 246,000 broadband accesses in Peru, mainly in Colombia, Ecuador and Colombia.

In the 12-month period from January to March, Earnings before interest, tax, depreciation and amortization grew 5.2% in peso terms.

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