Mexican billionaire Carlos Slim’s telecommunications giant America Movil said on Tuesday net profit more than doubled in the second quarter of 2021 from a year earlier, helped by foreign exchange gains.

The company, one of the world’s largest mobile network operators, reported net income of 42.8 billion pesos (€1.77bn), compared with 19.5 billion in the same period of 2020. Revenue rose 0.4 per cent year-on-year to 252.5 billion pesos in the quarter, when the company added 4.2 million wireless subscribers, it said in a statement.

The company, one of the world’s largest mobile network, operates across much of Latin America, the United States and in central and eastern Europe

America Movil operates across much of Latin America, the United States and in central and eastern Europe.

It has helped make Slim the richest man in Latin America, according to Forbes magazine, which estimates his family fortune at around $69 billion.