Brazilian Tim Celular Posts Profit Of R$10.8 Million In Q3

Emerging Markets Economy, Apr 10, 2003

Brazilian Tim Celular Sul, a mobile phone operator for Paranב, Santa Catarina and Pelotas (Rio Grande do Sul), registered a net profit of R$ 10.8 million in the third quarter of 2001, compared to losses of R$ 3.9 million in the period between July and September of 2000.

With that, the profit accumulated over the first nine months of the year rises to R$ 43 million, six times higher than the R$ 7.1 million up to the third quarter of 2000.

This performance was mainly due to the R$ 102 million invested this year, of which R$ 35 million was invested in the period beween July and September. The investments were in new services and products and in the extension of the coverage network. - (EMEconomy.com)