Sri Lanka Telecom June net down 4.3-pct

ECONOMYNEXT – Sri Lanka Telecom, the country’s sole wireline operator, which has a mobile unit, said net profit fell 4.3% to Rs1,051 million in the June 2017 quarter from a year ago.

Sales of the group rose 2.4% to Rs18.7 billion over the period, according to interim results filed with the stock exchange.

Earnings per share for the quarter fell to 58 cents from 61 cents the year before. SLT shares were trading at Rs31 Wednesday morning.

In the six months to June EPS was Rs1.39, down from Rs1.56 the previous year with net profit of Rs2.5 billion and sales of Rs37.4 billion.

Pre-tax profits from both fixed line and mobile operations fell during the half-year, the accounts showed.

Accounts of SLT group, which comprises of the holding company and eight subsidiaries including Mobitel (Pvt) Ltd, the mobile arm, showed higher depreciation charges during the quarter and lower interest income and foreign exchange losses.
(COLOMBO, August 16, 2017)

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