Telefonica profits slide as expenses climb

The Peruvian subsidiary of Spanish telecoms giant Telefonica has reported net profits of PEN23.4 million (USD8.63 million) for the three months ended 31 March 2012, down from PEN40.3 million in the year-ago period. The dip was attributed to greater operating costs, while revenues increased to PEN940 million, from PN935 million in the same period of 2011. According to TeleGeography’s GlobalComms Database, Telefonica del Peru is the nation’s largest telco by subscribers in the wireless, fixed telephony and broadband markets, representing 52.5% of the mobile segment at the end of 2011, and more than 90% each of the fixed voice and data sectors.