Quebecor profit rises on telecom segment growth

Wed May 9, 2012 6:33am EDT
 
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(Reuters) - Cable and media company Quebecor Inc's (QBRa.TO: Quote) (QBRb.TO: Quote) first-quarter net profit more than doubled on strong growth at its telecommunications segment.

Net income attributable to shareholders rose to C$72.9 million, or C$1.14 per share, from C$34.3 million, or 52 Canadian cents per share, a year ago.

Adjusted income from continuing operations rose to C$39.3 million, or 62 Canadian cents per basic share, from C$35.9 million, or 56 Canadian cents per basic share, in the year-ago period.

Revenue rose more than 7 percent to C$1.06 billion.

(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Sreejiraj Eluvangal)