Quebecor profit falls on debt refinancing charge, higher costs

Thu Mar 14, 2013 7:44am EDT
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(Reuters) - Canadian media and telecommunications conglomerate Quebecor Inc QBRa.TO (QBRb.TO: Quote) reported a 89 percent fall in quarterly profit after it booked a debt refinancing-related charge and on higher costs.

Net income fell to C$9.2 million ($9 million), or 15 Canadian cents per basic share, in the fourth quarter, from C$85.4 million, or C$1.34 per basic share, a year earlier.

Revenue fell marginally to C$1.14 billion.

(Reporting by Maneesha Tiwari in Bangalore; Editing by Sriraj Kalluvila)

Quebecor Inc. President and Chief Executive Officer Pierre Karl Peladeau looks on during their annual general meeting in Montreal, May 9, 2012. REUTERS/Olivier Jean