Sri Lanka Telecom March quarter net profit up 87-pct

ECONOMYNEXT – State-owned Sri Lanka Telecom Plc (SLT) said group net profit shot up almost 87 percent to 2.2 billion rupees in the March 2019 quarter from a year ago.

Earnings per share rose to 1.22 rupees from 65 cents in the same quarter the year before, according to interim results of the island’s main fixed line operator.

The share was trading at 20.50 rupees Thursday morning, up 50 cents or 2.5 percent.

Sri Lanka Telecom group sales rose 7.6 percent to 21.3 billion rupees in the quarter from the year before.

SLT’s core business is its fixed and mobile ICT (information, communications technology) operations with earnings on the increase in fixed-broadband and mobile usage.

The accounts showed pre-tax profit from fixed ICT operations shot up 216 percent to 1.6 billion rupees in the March 2019 quarter from 501 million rupees the previous year.

This includes voice, data, broadband, wholesale, enterprise, cloud, international, and IPTV.

Pre-tax profit from SLT’s mobile operations, its Mobitel subsidiary, rose 26 percent to 1.3 billion rupees during the period.

(COLOMBO, 16 May 2019)





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