The telecommunications company Megacable had a favorable first quarter thanks to the addition of more users to its massive internet, pay television and telephone services.
According to the financial report of Megacable, in the first quarter of this year it registered revenues of 6,562 million pesos, which means an increase of 10.3% and a record increase for a quarter.
This result was driven by a greater addition of subscribers, since in its internet service it registered 303,000 net additions, an increase of 8%; while in telephony it reported 362,000 new users, an increase of 13%. 3% more than the same period last year.
These increases were enough to offset a slight increase in the disconnection rate during the period, which was between 2% and 2.5% compared to the first quarter of 2021, when it ranged between 1.7% and 2.2%. However, the company clarified in its report that the number of users who canceled their internet, telephone or pay television services in the quarter still remains at levels below the pre-pandemic period.
The company chaired by Enrique Yamuni explained that during the first three months of this year, Megacable invested 2,340 million pesos, which represents 35.7% of quarterly revenues.
“During this period, the company continued to focus on executing its network evolution project and entering new markets. These investments will contribute to the growth of subscribers and income in the coming periods”, detailed the company in its financial report sent to the Mexican Stock Exchange.
From January to March of this year, Megacable obtained an operating flow (EBITDA) of 3,228 million pesos, which means a growth of 8% compared to the same period of the previous year.
Meanwhile, Megacable’s net income closed with 1,170 million pesos, which represents an increase of 6.1% compared to the same period last year.
