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Portugal NOS' quarterly profit more than doubles despite pandemic

LISBON, March 10 (Reuters) - Portuguese telecoms firm NOS posted on Wednesday a fourth-quarter net profit of 12.9 million euros ($15.4 million), more than double what it netted a year ago, as its core revenues and client numbers rose despite the COVID-19 pandemic.

NOS, whose businesses also include cable television and cinemas, made a profit of 5.4 million euros a year ago.

While consolidated revenues fell over 3% to 354 million euros in the quarter from a year ago, mostly weighed down by cinemas that were either shut or stood largely empty due to the pandemic, revenue from its core telecommunications business increased 1% to 350 million euros.

Even as consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 2.9% to 132 million euros, NOS’ EBITDA margin - a key measure of profitability - improved 0.2 percentage points to 37.3%, the company said. ($1 = 0.8405 euros) (Reporting by Sergio Goncalves, editing by Andrei Khalip)

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