By Yifan Wang

China Mobile Ltd. said its net profit edged down 0.3% during the first three quarters of the year, as lower margins dragged on its bottom line despite an increase in revenue.

The telecom carrier on Tuesday posted a net profit of 81.6 billion yuan (US$12.21 billion) for the nine-month period, down from CNY81.8 billion a year earlier.

Its net profit margin was 14.2% compared with 14.4% in the same period last year.

For the September quarter, net profit rose thanks to good cost control and the economic recovery, China Mobile said, without disclosing specific numbers.

Revenue rose 1.4% to CNY574.4 billion in the January-to-September period, mainly driven by a 2.5% increase in revenue from telecom services, the company's primary business.

For the rest of the year, China Mobile expects to continue prioritizing cost controls amid spending pressures from its 5G buildout. It vowed to deliver "stable" annual net profit for 2020.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

10-20-20 0639ET