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Sri Lanka’s eChannelling reports loss in December quarter

ECONOMYNEXT – eChannelling, Sri Lanka’s first listed dotcom, reported a loss of Rs1.8 million in the December 2016 quarter compared with a profit of Rs25 million a year ago as it faced competition in its online medical appointment business.

Sales halved to Rs28 million during the period while income tax costs were sharply higher, according to interim results filed with the stock exchange.

eChannelling reported a loss per share of one cent for the December 2016 quarter. The share was last traded at Rs6.50.

The firm’s earnings per share for the nine months to 31 December 2016 were 22 cents, down from 54 cents a year ago.

September 2016 quarter net profit of eChannelling, which lists Mobitel, a unit of Sri Lanka Telecom, as its controlling shareholder, was Rs13 million, down from Rs21.8 million the year before.

The company, which pioneered online channelling of doctors, now faces competition from Doc.lk, a firm set up by Dialog, Sri Lanka’s largest mobile firm, and Asiri Healthcare group
(COLOMBO, Feb 28, 2017)


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