SLT profits up by over three-quarters

12 Feb 2007

Sri Lanka Telecom (SLT) has announced a 76% year-on-year increase in 2006 net profit to LKR5.4 billion (USD50 million), on revenues that rose by 25% to LKR40.7 billion. A company statement said that turnover from local voice services rose by 29% driven by steady per line revenue from existing wireline customers in addition to 200,000 new CDMA-base WiLL connections. The telco also reported a significant increase in incoming international traffic and a marginal decrease in outgoing traffic driving a 4% growth in total international voice revenues in the year. SLT’s international business has been facing fierce competition and it took a strategic decision to enhance its MaxTalk VoIP pre-paid card service. Mobile unit Mobitel posted a 49% increase in revenues, attributed to diversified services and a 111% growth in its customer base to nearly 900,000 GSM/TDMA users.

Sri Lanka, SLT-Mobitel, Sri Lanka Telecom (SLT-Mobitel)