Third-quarter turnaround for Sri Lanka Telecom

Sri Lanka Telecom (SLT) has reported consolidated net profits across its fixed and mobile divisions of LKR1.027 billion (USD9.2 million) in the three months ended 30 September 2010, turning around a net loss of LKR189 million in the same period of 2009. Fixed line and broadband net profit reached LKR551 million in the third quarter of 2010, up from LKR298 million a year earlier, despite divisional revenues slipping by 1% year-on-year to LKR8.58 billion. Including mobile operations (Mobitel), consolidated quarterly group revenues rose 4% y-o-y to LKR12.7 billion. Group CAPEX was reduced significantly in the first nine months of the year, to LKR4.5 billion, down from LKR13.3 billion in 9M09.