Dialog Q4 net profits up 11%

20 Feb 2012

Sri Lanka’s largest cellular operator by subscribers, Dialog Axiata, has reported that consolidated net profit for the three months ended December 2011 rose by 11% year-on-year to LKR1.4 billion (USD12 million), while profits in the full-year climbed 6% to LKR5.3 billion. Fourth-quarter group revenues also rose 11% year-on-year to LKR12.0 billion and annual group revenues grew by 10.1% to LKR45.6 billion. Dialog, which includes fixed broadband, fixed-wireless telephony and pay-TV operations, said that net profit at its core mobile unit was LKR6.3 billion in full-year 2011, on revenues of LKR41.7 billion, while its broadband division (including CDMA telephony) posted turnover of LKR2.3 billion and an operating loss of LKR942 million, and television operations marginally broke even in gross profit terms at LKR26 million, on revenues of LKR2.4 billion. Dialog has agreed to purchase Sri Lankan fixed line operator Suntel, in a deal announced in December 2011, having deposited USD27.9 billion in an escrow account with Standard Chartered Bank Sri Lanka in relation to the transaction.

Sri Lanka, Dialog Axiata