Peru’s largest cellco by subscribers, Telefonica del Peru, which offers services under the ‘Movistar’ brand, has reported operating revenues of PEN940 million (USD351.4 million) for the first quarter of 2012, up 0.5% from the same period of 2011. Net profits dropped by 41.9% to PEN23.4 million, compared to PEN40.3 million a year earlier. Telefonica attributed the drop to an increase in operating costs.
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