China Telecom results down 7.3% year on year

China Telecom, the world's biggest fixed-line network operator, reported a fall in net profit of 7.3 per cent for the third quarter from a year earlier, hit by increasing costs and subsidies on mobile phones to attract subscribers.

Net profit dropped to 3.75 billion yuan (HK$4.61 billion) while revenue rose 16 per cent to 72 billion yuan from the year-earlier quarter.

via Business feed http://www.scmp.com/business/companies/article/1072830/china-telecom-results-down-73-year-year