Portugal’s second largest mobile operator Telecel-Comunicacies Pessoais has announced a 13% rise in fiscal Q1 profits. Net income in Q1 increased to E20.2 million from 17.9 million for the same period last year. The rise, which is attributable to lower taxes, is in line with expectations.
Telecel’s tax has fallen from 43% last year to 33.8%. This fall required the operator to set aside a tax provision of E10.3 million, compared to E13.7 million in Q1 2001.
Average monthly revenue per active user was E30.82, a drop of 6.2%. However, operating revenues climbed 2.2% to E254.5 million. EBITDA grew 7.2% to E72.7 million.