By Anthony Harrup
MEXICO CITY — Mexican telecommunications heavyweight América Móvil SAB posted a large increase in first-quarter net profit, boosted by foreign exchange gains.
Latin America’s largest telecommunications company by subscribers reported net profit of 30.8 billion Mexican pesos ($1.5 billion) for the January-March period, up from 1.8 billion pesos in the year-earlier quarter.
Profit was equivalent to 0.48 pesos a share, or 47 U.S. cents an American depositary receipt.
The appreciation of the Mexican peso against the euro and the U.
