Sri Lanka Dialog March quarter net profit up 35-pct

ECONOMYNEXT – Sri Lankan telco Dialog Axiata PLC said group net profit for the March 2016 quarter rose 34.7 percent to Rs2.7 billion from a year ago.

Sales rose 22 percent to Rs21.2 billion in the quarter, a stock exchange filing said.

Earnings per share were 33 cents up from 24 cents a year ago.

Dialog said its mobile customer base was over 10.6 million subscribers.

Dialog Television (DTV), the group’s digital pay television business, made a net loss of Rs182 million in the quarter compared to a net profit of Rs139 million a year ago.

This was because of “cost expansion arising from aggressive customer acquisition, alongside service and product expansion activities,” a statement said.

DTV’s sales grew 8 percent to Rs1.6 billion. DTV’s Pay TV customer base was 701,000 subscriptions at the end of March 2016.

Group capital expenditure for the March quarter was Rs2.9 billion, mainly for investments in high speed broadband infrastructure alongside the extension of the group’s Optical Fibre Network.
(COLOMBO, May 12 2016)

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