Telefonica del Peru Reports 39.2 Percent Gain in Third Quarter Profit

Telefonica del Peru, a subsidiary of Spain’s Telefonica, reported a 39.2 percent increase in profits in the third quarter to $36.2 million. The company, which controls the fixed line market and competes principally with America Movil in the mobile phone market, said the increase was a result of the purchase of a competitor, Telefonica Empresas Peru.