November 7, 2013 / 12:28 PM / 5 years ago

CORRECTED-Canadian telecom company BCE posts 35 pct drop in profit

(Corrects headline to say profit fell 35 percent, not 39 percent. Incorporates earlier correction for operating revenue, which rose to C$5.10 billion from C$4.98 billion, not to C$4.52 billion from C$4.39 billion)

Nov 7 (Reuters) - BCE Inc, Canada’s biggest telecom company, posted a 35 percent slump in quarterly profit, hurt by costs related to its $3 billion acquisition of Astral Media earlier this year.

BCE’s net earnings fell to C$343 million ($329 million), or 44 Canadian cents per share, in the third quarter ended Sept. 30 from C$527 million, or 68 Canadian cents per share, a year earlier.

The Montreal-based parent of Bell Canada said it paid C$230 million to meet regulatory obligations related to the Astral deal.

BCE closed the deal to buy Astral, which owns radio stations, cable TV channels and a billboard network, in July.

Excluding one-time items, BCE earned 75 Canadian cents per share.

Operating revenue rose to C$5.10 billion from C$4.98 billion.

$1 = 1.04 Canadian dollars Reporting by Sayantani Ghosh; Editing by Kirti Pandey

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