China Telecom Posts Drop In Q1 Profit

China Telecom Corp CHA reported a 6.5% decline in its first-quarter unaudited net profit. China Telecom's quarterly net profit fell to CNY4.27 billion (US$677.2 million), from CNY4.57 billion. Its operating revenue climbed 15.7% to CNY67.93 billion from CNY58.72 billion. CHA shares closed at $53.02 yesterday.