SLT’s 4Q profits near USD6 million

20 Feb 2006

Sri Lanka’s dominant fixed line operator Sri Lanka Telecom (SLT) said on Friday that its net profits for the fourth quarter of 2005 topped LKR604 million (USD5.88 million), compared to a net loss of LKR683 million (USD6.7 million) in 4Q04, despite continued losses from its mobile subsidiary Mobitel and a levy on international calls. SLT posted net profits for the full year of LKR3.1 billion (USD30.4 million) on revenues that jumped by 10% to LKR32.5 billion (USD318 million). Mobitel, which has around 15% of the country’s mobile market, posted an annual loss of LKR1.26 billion. SLT controls 86% of Sri Lanka’s wireline market and is owned by the government (49.5%), Japan’s NTT (35.2%) and the general public (15.35%).

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