Oi's net profit drops back in the third quarter, 70.7% to R $ 172 million

SAO PAULO-the Hi phone operator recorded net income of r $ 172 million in the third quarter. This result represents a drop of 70.7% compared to the gains recorded between July and September 2012 ($ 587 million).
According to the company, the fall in net profit was determined by the increase in financial expenses in the third quarter and by lower Ebitda (earnings before interest, taxes, depreciation and amortization) in the period.
The company's Ebitda reached r $ 2,139 billion, a fall of 2.3% over the same period last year. The Ebitda margin declined 1 percentage point, to 30.1%.
The company's net revenue of the company totaled r $ 7,099 billion in the third quarter, an increase of 0.8% in comparison with the verified between July and September 2012 ($ 7,041 billion).