Sri Lanka Telecom net profit down 42%

26 May 2009

Sri Lanka Telecom (SLT) has reported that its consolidated net profits fell 42% year-on-year to LKR974 million (USD8.5 million) in the quarter ended 31 March 2009, as growth in the mobile and broadband segments failed to offset falling fixed access revenues. Group revenue, including SLT’s mobile unit Mobitel, rose 2% to LKR11.9 billion, while stand-alone company sales fell 11% to LKR8.3 billion. Quarterly wireline revenues fell to LKR3.7 billion from LKR4.4 billion a year earlier, while CDMA fixed-wireless turnover also dropped slightly to LKR1.2 billion. Broadband and data revenues grew 25% year-on-year to LKR1.6 billion in the January-March period.

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