UPDATE 1-Brazilian telecom Tim Participacoes Q3 net profit jumps 61%

BRASILIA (Reuters) – Brazilian wireless carrier TIM Participações SA (TIMP3.SA) reported on Tuesday a 61.4% rise in third-quarter net income, compared with the same period a year ago when results were affected by one-off factors. In a securities filing, the local subsidiary of Telecom Italia SpA (TLIT.MI) said its quarterly net profit hit 619 million reais ($155 million), compared with a consensus estimate of 607.87 million reais compiled by Refinitiv. Earnings before interest, taxes, depreciation and amortization, a gauge of operating performance known as EBITDA, grew by 6.8% year-on-year to 1.7 billion reais. Analysts on average expected EBITDA of 1.88 billion reais, according to Refinitiv data. Brazil’s third-largest wireless carrier reported a net revenue of 127 million reais in the quarter ended on Sept. 30, up 31.5% from a year ago. Operational expenses fell by 0.6% to 2.62 billion reais. TIM’s shares have risen over 4 percent so far this year, underperforming rival Telefonica Brasil SA (TIMP3.SA), whose shares have climbed approximately 24% in the same period. Earlier this week, Telefonica Brasil announced a decline in quarterly net income of almost 70% year-on-year, as non-recurring effects offset better mobile revenues.

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