The Globe and Mail reports in its Saturday edition that Telus's third-quarter profit fell sharply Friday, even as it increased its revenue year-over-year and added new wireless customers in an increasingly competitive market. The Globe's Alexandra Posadzki writes that Telus posted $137-million of profit for the three-month period ended Sept. 30, down 75 per cent from a year ago. Its revenue for the quarter came to $5-billion, up 7.2 per cent from the same period last year when it had $4.67-billion in revenue. The telco attributed the lower profit to increased depreciation and amortization relating to its accelerated network build-out and recent acquisitions. Telus blamed higher interest rates and higher restructuring costs relating to its continuing cost-efficiency program and its recent work force reduction. (The company announced in August when it reported its second-quarter results that it was trimming its global head count by 6,000 people.) However, chief financial officer Doug French said the company saw strong growth in its wireless subscriber base. Mr. French told The Globe, "Our organization continues to focus on value and driving margin." Telus added 160,000 net new wireless subscribers during the quarter.