America Movil net profit soars 31.6% in Q3′08 (Mexico)America Movil has announced its third quarter results. It posts a rise of 31.6% in net profit, higher sales and lower depreciation and amortisation charges are the driving factors for good results. The net profit was MXN12.4 billion in comparison to MXN9.4 billion for the same period in 2007. It is noted that depreciation and amortisation costs for its older TDMA and CDMA networks had slipped to 11.9% of revenues, down from 15.7% a year earlier. Total revenues for the group mounts 9.8% year-on-year, attributing the possitivite results to the revenues from from value added services in Brazil and Columbia.
Taking into account the subscriber base for third quarter, it had reached the mark of 172.6 million wireless customers and 3.9 million wireline, and signs up 7.3 million new wireless subscribers. America Movil’s Brazilian operations adds 2.6 million subscribers to its kitty, followed by Mexico and Columbia where it added 1.5 million and 1.2 million customers respectively.
