MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil on Tuesday reported a 48% fall in its fourth-quarter net profit, well below analysts' expectations, with the company citing foreign-exchange losses even as its revenues rose.

Profit for the company, controlled by the family of Mexican billionaire Carlos Slim, landed at 9.48 billion pesos ($453 million) - well below the average estimate of analysts polled by LSEG, who had forecast more than double the figure in dollar-denominated net earnings, at $1.15 billion.

Revenues, meanwhile, came in at 236.94 billion pesos ($11.35 billion) for the period, up 18% year-on-year, but just slightly below an LSEG forecast of $11.41 billion.

America Movil noted that its quarterly revenue growth was largely due to a new accounting methodology in its Argentina operations, which ended last year with 118% inflation.

Excluding Argentina, the firm said, revenues would have still risen 10% in Mexican peso terms, thanks in part to the consolidation of its operations in Chile.

($1 = 20.8829 Mexican pesos at end-December)