SAO PAULO, Oct 31 (Reuters) - Brazilian telco Telefonica Brasil reported on Tuesday a 2% growth in net profit for the third quarter, topping expectations.

The company, a unit of Spain's Telefonica, posted profit of 1.47 billion reais ($291.93 million), while analysts expected 1.18 billion reais, according to LSEG.

($1 = 5.0354 reais) (Reporting by Peter Frontini; Editing by Kylie Madry)