Telefonica of Spain’s Brazilian asset Telefonica Brasil, which offers fixed and mobile services under the recently unified Vivo banner, booked a 15.2% year-on-year decline in net profit to BRL956.5 million (USD488 million) for the three months to 31 March 2012, attributed to higher costs related to depreciation and amortisation. The Brazilian group reported that depreciation and amortisations reached BRL1.3 billion in the period under review, compared to BRL1.08 billion in the corresponding period of 2011
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OVETEL Telefonica Brasil books 15% drop in first-quarter net income
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