SLT profits climb 49%

10 Aug 2011

Sri Lanka Telecom (SLT) has posted a 49% year-on-year rise in second-quarter net profit to LKR1.14 billion (USD10.4 million), on revenues that increased by 1% in the same period. The group’s results for April-June 2011 included a LKR150 million refund of Telecommunication Development Charge. SLT’s mobile division Mobitel recorded a net profit rise of 44% y-o-y to LKR778 million. A statement from the group added that ‘the favourable macroeconomic climate had a positive impact on interest rates, and currency rates too resulting as a contributory factor in significant growth in profit.’

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