Entel reports net profit of $61.7Mn in Q2’09 (Chile)

www.WirelessFederation.com/news: Entel has reported net profit of CLP33.3 billion (USD61.7 million) in Q2’09, down 6% from CLP35.4 billion in the same quarter a year earlier. For the first six months of the year earnings were CLP64.5billion, also down 6% from CLP68.4 billion a year ago. Total revenues for the quarter were CLP239 billion, up only 1% in comparison to CLP236 billion in 2Q08. Sales were affected by a 45% drop in mobile interconnection rates that came into effect earlier this year.

Entel’s CFO Felipe Ureta said the global economic crisis was responsible for a weaker economic environment, which in turn had impacted results. Nonetheless, he said he expects demand to pick up in the third quarter of the year. ‘Despite the 45% decline in mobile interconnection rates and a weaker domestic economic environment, consolidated revenues for the quarter increased 1%. This result was principally driven by higher revenues in the Chile wireline business, fueled by data and IT services,’ Ureta said. The telco is home to 5.95 million subscribers, up 2%, holds a market share of 39%. In the post-paid arena, total subscriber base reaches to 31% corresponding to 28% a year ago.