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Sri Lanka Telecom June net profit down 29-pct

ECONOMYNEXT – Sri Lanka Telecom’s net profit fell 29 percent to 1.7 billion rupees in the June 2015 quarter from a year ago with sharply higher earnings from its mobile business helping prop up the bottom line.

Sales rose four percent to 16.8 billion rupees in the quarter. Basic earnings per share fell to one rupee from 1.34 rupees the year before, a stock exchange filing said.

The group’s other income fell sharply and it made a foreign exchange loss in the June 2015 quarter as opposed to a gain the previous year.
Sri Lanka Telecom’s fixed line business pre-tax profit fell but profit rose sharply from its Mobitel mobile phone subsidiary. (Colombo/August 12 2015)

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