Portugal Telecom reported a net income of EUR56.5 million, down 56.5 percent from EUR129.7 million, on revenue of EUR1.72 billion, up 97 percent from EUR871 million, for the quarter to 31 March 2012.

Its revenue benefited from the proportional consolidation of Brazilian operator Oi and contact centre business Contax – excluding these changes, operating revenue would have fallen by 2.7 percent to EUR780 million. For its home market, the company noted pressure on its Personal segment, where operating revenue fell by EUR18 million to EUR169 million, mainly due to reduced sales to customers – including “lower revenues from mobile broadband as customers are moving to lower value plans.”