Telus profit rises 10 percent on strong demand
(Reuters) - Telus Corp (T.TO: Quote) TU.N, one of Canada's three top telecommunications companies, reported a 10 percent rise in quarterly profit, helped by higher revenue from its wireless and wireline businesses.
The company said it added about 81,000 new wireless postpaid, TV and high-speed subscribers in the quarter. Telus serves about 13.7 million customers, according to its website.
Telus raised its second-quarter dividend to 42 Canadian cents per share from 40 Canadian cents it paid in the first quarter.
The company's net income rose to C$415 million ($344.1 million), or 68 Canadian cents per share, for the first quarter ended March 31, from C$377 million, or 60 Canadian cents per share, a year earlier.
On an adjusted basis, the company earned 70 Canadian cents per share.
The Vancouver-based company's total operating revenue rose nearly 5 percent to C$3.03 billion.
Telus' shares had risen 6.5 percent in the past 12 months through their Wednesday closing of C$42.02 on the Toronto Stock Exchange.
(Reporting by Anet Josline Pinto in Bengaluru; Editing by Don Sebastian; Editing by Saumyadeb Chakrabarty)
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