Telus profits down 12%

Canada’s Telus Corp has posted a 12% year-on-year fall in net profit in the third quarter of 2010 to CAD247 million (USD246.9 million), but said that the result does not reflect on its operations as the drop was caused by early redemption of a portion of outstanding debt. Telus’ consolidated wireline, internet, mobile and TV operating revenues grew to CAD2.46 billion in the three months to the end of September 2010, up from CAD2.41 billion a year earlier. At the group’s wireless division, third-quarter revenue increased by 6.3%, or CAD76 million, compared to the same period of 2009, to CAD1.28 billion. Revenue at the fixed network division fell by 2.7%, or CAD32 million, year-on-year, to CAD1.17 billion, as declining PSTN voice telephony turnover was only partially offset by higher internet/data revenues and growth in Telus’ IPTV/satellite TV business. Still a minnow in terms of the national pay-TV market, Telus TV had 266,000 subscribers by the end of September 2010, up 94% y-o-y.