Telefonica Brasil posts 12.3 percent drop in quarterly profit
SAO PAULO May 13 (Reuters) - Brazilian phone company Telefonica Brasil SA said on Wednesday that its first-quarter profit fell 12.3 percent from a year earlier to 579.7 million reais ($191 million).
The Brazilian unit of Spain's Telefonica said in a securities filing that earnings before interest, taxes, depreciation and amortization rose 0.2 percent from a year ago to 2.57 billion reais.
The company said in another filing that its board would meet on May 28 to deliberate the purchase of broadband provider GVT.
($1 = 3.04 reais) (Reporting by Caroline Stauffer and Guillermo Parra Bernal; Editing by Chizu Nomiyama)
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