Sri Lanka Telecom March net up 2.5-pct
ECONONYNEXT – Profits at Sri Lanka Telecom, group which has wireline and a mobile services, rose 2.5 percent to 1.72 billion rupees in the December 2016 quarter from a year earlier, with costs ticking up, despite a revenue gain, interim accounts showed.
Sri Lanka Telecom reported earnings of 96 cents per share for the quarter.
In the March quarter group revenues rose 10.1 percent to 18.4 billion rupees and operating costs rose at a faster 14.0 percent 12.7 billion rupees, allowing the group to grow operating profits only 2.3 percent to 5.6 billion rupees.
At the core wireline unit operating profits after depreciation fell to 897 million rupees from 1.037 million.
Depreciation rose 3.2 billion rupees from 3.0 billion rupees.
Foreign exchange losses rose to 307 million rupees from 284 million rupees.