Quebecor profit rises on telecom segment growth

Thu Aug 9, 2012 6:59am EDT
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(Reuters) - Canadian cable and media company Quebecor Inc's (QBRa.TO: Quote) (QBRb.TO: Quote) profit rose 21 percent in the second quarter on growth in its telecommunications segment.

Net income attributable to shareholders rose to C$67 million, or C$1.05 per share, from C$55.2 million, or 85 Canadian cents per share, a year earlier.

Quebecor, which launched a wireless service in late 2010 as the fourth element of a bundled offering that includes landline telephone, Internet and cable television, said revenue rose 3.1 percent to C$1.09 billion.

Revenue at its telecom segment rose to C$651.8 million from C$601.1 million a year earlier.

Adjusted income from continuing operations fell to 77 Canadian cents per basic share from 93 Canadian cents a year earlier.

Shares of Montreal-based Quebecor closed at C$34.08 on Wednesday on the Toronto Stock Exchange.

(Reporting by Maneesha Tiwari in Bangalore; Editing by Saumyadeb Chakrabarty)