Quebecor Media Inc.’s first quarter profits fell by more than half this year despite higher revenues from its telecom services, the company said. In a quarterly earnings statement Wednesday, Quebecor said its Videotron Ltd. telecom subsidiary had $668.8 million in first quarter revenues, up $23 million, or 3.6 per cent, from the same period a year earlier. The largest increase was in the company’s wireless segment, which reported $50 million in revenues, up 33 per cent from $37.6 million from its 2012 first quarter “essentially due to customer growth,” the company said. Quebecor said it added 18,300 wireless subscribers in the three-month period that ended March 31, with its wireless service passing the “break-even point” for the first time. Its total wireless subscriber base was 420,900 customers as of March 31, the company said. Videotron also increased revenues from its cable TV services by $3.9 million to $271.9 million in the quarter, Quebecor said, “due primarily to higher revenues from the leasing of set-top boxes and increased viewings of pay-per-view events.” Cable telephone revenues rose by $4 million from the same period of 2012, to $115.7 million in 2013 due to growth in residential and business customers. Revenues from the company’s Internet access services rose 3.7 per cent, or $7.1 million, from the same period a year earlier to $198.4 million, “mainly due to customer growth,” the company said. Overall, Quebecor said first quarter net income fell to $35.6 million, down 50.1 per cent from $71.4 million during the same period a year earlier, due to a $74.2 million “unfavourable variance in the gain on valuation and translation of financial instruments,” $20.7 million in amortization charges, and $11.8 million in financial expenses.