SLT’s nine-month profit reaches USD36 million

4 Dec 2006

Sri Lanka Telecom (SLT) has posted a profit of LKR3.87 billion (USD36 million) for the first nine months of 2006, up by 55% year-on-year, on revenues of LKR29.9 billion (USD290 million), helped by growth of its CDMA WiLL services and improved performance at its Mobitel cellular unit. CDMA local telephony, launched in the fourth quarter of 2005, contributed LKR3.6 billion towards total revenues during the nine months, and WiLL subscribers stood at 200,000 at the end of September. Meanwhile Mobitel achieved year-on-year growth of 56% in its top line to LKR3.9 billion, driven by a GSM subscriber base that grew 64% to 688,000 at the end of the third quarter. Mobitel also reported an operating profit margin of 15% compared to an operating loss for the same period last year.

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