MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil on Tuesday posted a better-than-expected 31.7% increase in its fourth-quarter net profit to 18.062 billion pesos ($1.065 billion), even as a stronger peso diluted revenues abroad.

The company, controlled by the family of Mexican billionaire Carlos Slim, reported quarterly revenue of 200.713 billion pesos ($11.83 billion), down 7.1% from a year earlier on a strengthened Mexican peso.