2023-10-31 21:34:59
According to the company, profit growth was due to increased revenue in both the mobile and fixed segments
Telefônica Brasil (owner of Vivo) had a net profit of R$1.472 billion in the third quarter of 2023, an increase of 2.2% compared to the same period in 2022, according to the balance sheet published this Tuesday, 31.
According to the company, the profit growth was due to the increase in revenue in both the mobile and fixed segments, combined with cost control, which helped to improve the operating margin. These positive effects, however, were partially offset by the increase in financial expenses.
Ebitda (earnings before interest, taxes, depreciation and amortization) totaled R$5.539 billion, an increase of 11.7% on the same basis of comparison. The Ebitda margin rose 1.6 percentage points, to 42.2%.
Net revenue totaled R$13.112 billion, an increase of 7.5%. While the company’s total costs grew 4.6%, reaching R$7.573 billion.
The financial result (balance between financial income and expenses) generated an expense of R$570 million, compared to just R$38 million a year earlier. According to the company, this happened due to the lower level of revenue with monetary restatement to balance it.
The asset depreciation and amortization line was negative at R$3.418 billion, an increase of 6%.
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