Portugal Telecom reports first-quarter revenues of EUR 1.71 billion, up nearly 97 percent from EUR 871 million in the year-earlier period. The growth was mainly due to the proportional consolidation of Oi and Contax, following the completion of the exchange of PT's interest in this business for an additional stake in Contax, which previously was fully consolidated. EBITDA increased by 59.9 percent year-on-year to EUR 572 million, with EBITDA margin at 33.3 percent. However, Portugal Telecom's net profit plunged 56.5 percent to EUR 56 million, from EUR 130 million in the year-earlier period. First-quarter capex totaled EUR 259 million, equivalent to 15.1 of revenues. PT had around 2.629 PSTN/ISDN lines at end-March, down from 2.683 million in March 2011. Fixed retail net additions in the first quarter amounted to 85,000 customers, as a result of the significant growth of the pay-TV service, which accounted for 69,000, bringing the total pay-TV base to over 1.11 million at end-March. ADSL net additions in the first quarter reached 35,000 to a total ADSL base of 1.14 million users at the end of the first quarter. The number of mobile customers increased by 14,000 in Q1 to 7.45 million. Data revenues accounted for 31.1 percent of service revenues, up from 26.9 percent in the first quarter of 2011.
