Brazil's TIM reports flat Q3 profit, surge in revenue - Reuters

SAO PAULO, Nov 7 (Reuters) - Brazilian telecom relation TIM SA (TIMS3.SA) connected Monday reported a third-quarter nett net of 473 cardinal reais ($91.73 million), accordant with the aforesaid play past year, and alongside beardown gross growth.

TIM Brazil, controlled by Telecom Italia <TLIT.MI>, reported a 24.4% yearly summation successful nett gross to 5.61 cardinal reais, aided by the enlargement successful the firm's mobile telephone services; accounting for astir 92% of its full revenue.

Costs, however, grew 25.5% to 2.95 cardinal reais, chiefly owed to inflationary effects connected wages, bonuses and incentives, the steadfast said.

TIM's net earlier interest, taxes, depreciation and amortization (EBITDA) came successful astatine 2.7 cardinal reais, 24.5% supra the 3rd 4th of 2021.

($1 = 5.1567 reais)

Reporting by Peter Frontini; Editing by David Alire Garcia and Isabel Woodford

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