China Telecom ends Q1’09 with a mobile subscriber base of 32.84Mn

www.WirelessFederation.com/news: China Telecom, the Chinese telco, has posted a 27.4% drop in its Q1’09 profits. The operators’ profits attributable to equity holders for the Q1 plunged to RMB 4.7 billion from RMB 6.47 billion, a year earlier. The company recorded amortization of upfront connection fees of RMB 296 million during Q1.
The operating revenues, excluding amortization of upfront connection fees, for Q1 rose by 14.9% to RMB 50.89 billion from RMB 44.27 billion last year.
On the other hand, EBITDA dropped to RMB 22.2 billion from RMB 23.06 billion in 2008. Net decrease in local wireline access lines in service was 4.35 million compared to 4.62 million in the year-ago period. Mobile subscribers grew to 32.84 million from 27.91 million last year.