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Mexico's America Movil posts 31% drop in Q3 net profit

MEXICO CITY, Oct 15 (Reuters) - America Movil, the Mexican telecommunications giant, on Tuesday reported a third-quarter net profit of 13.03 billion pesos ($660.6 million), down 31% from 18.88 billion pesos in the same period last year.

The company, which is controlled by the family of Mexican billionaire Carlos Slim, posted total revenue of 248.43 billion pesos in the quarter, up from 247.94 billion pesos a year earlier.

(Reporting by Julia Love; Editing by Anthony Esposito)