Dialog’s quarterly revenues up 7% y-o-y, down slightly q-o-q

Sri Lanka’s largest mobile operator by subscribers Dialog Axiata posted a 7% year-on-year rise in consolidated revenues to LKR16.3 billion (USD125 million) in the three months to the end of March 2014, including mobile revenues which rose to LKR14.18 billion from LKR13.3 billion a year earlier, but down slightly from the LKR14.24 billion turnover posted in the previous quarter. Fixed network division Dialog Broadband Networks (DBN) reported that Q1 revenues were stable year-on-year at LKR1.5 billion. Consolidated profits stood at LKR1.25 billion in the first quarter, 21% lower than in the same period of 2013, due to higher expenses and depreciation charges, especially from Dialog’s 4G network investments. The DBN division posted a Q1 loss of LKR311 million, which widened from LKR62 million a year earlier. Dialog’s pay-TV services swung to a profit of LKR132 million in the three-month period from a loss of LKR14 million.