SANTIAGO DE CHILE - Chilean telecommunications company Entel delivered strong results for the first quarter of 2016, with profit soaring 59.3 percent compared to the same period of 2015, totaling 23.968 billion peso ($36.2 billion), the company reported Monday.
The company's president Juan Hurtado said in a document sent to the Chilean Superintendencia de Valores y Seguros (SVS) that "the growth in group revenues which come mainly from mobile services in Peru, representing a 59 percent increase," explained the profit margin obtained by the company.
The earnings before interest, taxes, depreciation and amortization (EBITDA) meanwhile stood at 109.033 billion peso ($164.9 billion), a 7 percent increase, which according Entel is due to "the best margins in all business segments in Chile, which grow by 3 percent, together with lower losses of the subsidiary Entel Peru."
The company's report highlights a progressive increase in fixed networks revenue associated with segment of companies, especially for the provision of integrated voice, data, internet and information technology (IT) solutions.
In Oct. 2014, the Chilean firm, controlled by the Hurtado family, began operations in Peru with Entel Peru brand, following the entry into the US market in 2013 with the acquisition of NII Holdings.