Quebecor posts quarterly profit

Thu Nov 6, 2014 6:40am EST
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Nov 6 (Reuters) - Canadian telecom and media conglomerate Quebecor Inc reported a quarterly profit, compared with a year-earlier loss, helped by a large non-cash gain.

The company posted a profit of C$45.1 million ($39.6 million), or 37 Canadian cents per share, in the third quarter ended September, compared with a loss of C$188.8 million, or C$1.53 per share, a year earlier.

Quebecor recorded a C$233.9 million gain in the quarter, including C$181.0 million favorable non-cash impact related to the value of goodwill, intangible assets and derivative financial instruments.

Revenue was flat at C$1.02 billion. (1 US dollar = 1.1399 Canadian dollar) (Reporting by Alastair Sharp and Anannya Pramanick in Bangalore; Editing by Sriraj Kalluvila)