Eir saw profits dip 45 per cent in the first quarter as its cost of finance doubled.A trading update covering the first three months of the year, published on Wednesday, shows the group, which provides fixed line and mobile telecommunications services in Ireland, made a profit of €16 million for the period, down from €29 million last year.Its operating profit was up from €55 million to €66 million, but finance costs doubled from €23 million to €46 million. The increase was mainly due to the prior year including a gain on modification of debt of €18 million. The group had cash on hand of €73 million.Eir paid a dividend of €8 million to European private equity firm InfraVia over the quarter. In the corresponding period last year, it paid a dividend of €45 million to equity shareholder Wexford Limited as well as €7 million to InfraVia.The group generated revenue of €316 million in the quarter, which represented an increase of 1 per cent or €3 million. Growth in post-pay mobile and bundling, as well as an increase in data service revenue, was offset by revenue reductions in voice traffic.Group adjusted earnings before interest, taxes, depreciation, and amortisation of €150 million was down €1 million year-on-year. The group paid €7 million on cost of sales which was partly offset by a €3 million decrease in operating costs to €89 million.The company’s broadband customer base at quarter-end was stable at 938,000. An increase of 26,000 retail customers was offset by a decrease of 26,000 wholesale customers. It counted 898,000 customers availing of fibre-based high speed broadband services, which was an increase of 2 per cent or 14,000 year-on-year.Fixed line revenue of €231 million was down 1 per cent due to lower voice revenue offset by increases in data service and subsidiaries and other revenue.Group fixed access paths fell 3 per cent, or 33,000 year-on-year, while standalone broadband lines decreased by 4,000.Mobile revenue of €95 million was up by 6 per cent or €5 million due to an increase in post-pay and roaming revenue of 8 per cent and 17 per cent respectively, offset against a decrease in the prepay revenue of 7 per cent.Staff numbers totalled 2,706 at quarter-end, which represented a 7 per cent reduction on the same period last year. The group included an exceptional charge of €1 million for restructuring programme costs in respect of staff that were leaving.The group also included an exceptional charge of €4 million for storm repair costs incurred as a result of “significant damage” to its telecom infrastructure. There was a further exceptional charge of €1 million in respect of legal and other related matters.Eir chief financial officer Stephen Tighe said the group’s performance was in line with expectations.