Latin American operator group America Movil announced solid, if uninspiring, figures for the first quarter of 2013.

According to Reuters, the company’s costs increased as it subsidised smartphones in order to attract customers from competitors and drive mobile data uptake among its own customers.

Indeed, mobile data service revenue growth of 25.6 per cent was identified as a highlight, alongside pay TV growth (20 per cent).

However, some observers also noted that regardless of the company’s numbers, the possibility of wide-ranging reform in the Mexican telecoms market is the biggest issue it is facing, even if at the moment this is not quantifiable.

In a statement, the group noted that in its home markets, “several countries saw their economies weaken more in the face of softer commodity prices”.

Net profit was MXN26.9 billion ($2.2 billion), down from MXN32.5 billion, due to operating pressure and higher foreign exchange gains in the prior period.

Revenue during the period was MXN193 billion, roughly flat from MXN192.5 billion in the first quarter of 2012.

Service revenue was MXN174.5 billion, down slightly from MXN177.1 billion.

The company noted the figures were essentially flat for Mexico, down in its South American operations, and up for its US business.

It ended the period with 262.9 million mobile subscribers, up 6.9 per cent year-on-year. In total, including landlines, broadband and pay TV, its customer base reaches 328.2 million.

It reported customer gains in Mexico, its biggest unit, which grew by 6.7 per cent year-on-year, to 66.7 million. Brazil, its second largest division by this metric, also saw growth of 7.7 per cent to 61.6 million.

However, its Colombian unit saw a decline of 4.7 per cent to 29 million subscribers, following a number of disconnections due to changes in its reporting policy.

The company said that during the period it agreed to participate in a refinancing programme for its Netherlands-based affiliate KPN. As part of this process, “America Movil and KPN will be sharing their expertise on operational and financial matters”.