Alternative Spanish telco Jazz Telecom (Jazztel) has released its financial results for the three months ended 31 March 2012, with the company recording a 71% year-on-year increase in net profit as it continued to grow its broadband subscriber base. For the telco’s first quarter of the 2012 fiscal year it posted a net profit of EUR11.8 million (USD15.5 million), up from EUR6.9 million in the corresponding period a year earlier, on revenues that rose by 24% to reach EUR216.5 million. Jazztel noted that revenue growth in the quarter had been driven mostly by its retail division, which it said accounted for EUR173.3 million of the total, representing a 25% y-o-y increase from the EUR138.3 million turnover generated by the division a year earlier
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OVETEL Broadband uptake bolsters Jazztel’s first quarter financials
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