TIM's profits hit US$181mn in Q3, doubling year-on-year

- Thursday, November 3, 2011

TIM's profits hit US$181mn in Q3, doubling year-on-year

Brazilian mobile operator TIM saw profits skyrocket in the third quarter of 2011 to 317mn reais (US$181mn), more than doubling the 146mn reais posted a year ago, the carrier said in a release.

In the quarter, TIM's net revenues rose 18.9% year-on-year to 4.4bn reais, while Ebitda reached 1.1bn reais, with a 26.4% margin. A year ago, the company's Ebitda was 1bn reais with a 28.2% margin.

According to TIM, growth in the smartphone segment helped boost service revenues, which reached 834mn reais.

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From July to September, the operator added 3.7mn subscribers to its base, up 26.2% year-over-year. According to the operator, the client base increase was the greatest among the country's major carriers.

TIM credited this sharp addition to nearly 27.3% year-on-year growth in the prepaid segment, and also to 19.6% postpaid growth.

In the postpaid niche, 632,000 customers were added in Q3, reaching 8.7mn users by the end of September. The prepaid base, in turn, totaled 50.6mn users.

TIM now has 59.2mn subscribers and is solidly ahead of América Móvil's Claro as Brazil's number two mobile operator, snatching 26.04% of the market.