Israeli fixed line incumbent Bezeq has revealed a 43% year-on-year increase in net profit for the first three months of 2012, despite recording an almost 6% dip in revenues for the period. In the quarter ended 31 March 2012 the telco saw consolidated turnover fall to ILS2.74 billion (USD720 million), down from ILS2.91 billion in 1Q 2011, with the operator noting that the decline was mostly attributed to reduced revenues from cellular services, which were ‘negatively influenced by regulatory changes enacted in 2011’. Indeed, in the quarter under review the company’s mobile unit, Pelephone, recorded a total turnover of ILS1.24 billion compared with ILS1.45 billion in the year-ago period, with service revenues down from ILS949 million to ILS834 million, a decline which ‘stemmed primarily from tariff erosion as a result of more intense competition and from the transition to multi-minute and SMS packages’
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OVETEL Bezeq reveals net profit increase in 1Q12, despite lower cellular revenues
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