SLT net profit slumps 37% in 4Q14

Sri Lanka Telecom (SLT) has announced its financial results for the quarter ending 31 December 2014. While recording revenue growth of 95% to reach LKR17.0 billion (USD124.8 million), up from LKR15.6 billion during the same period one year earlier, the operator’s net profit slumped 37% year-on-year (y-o-y) to reach LKR958 million, down from LKR1.5 billion. The drop was mainly attributed to operating costs which rose 24% y-o-y to LKR13.1 billion, up from LKR10.5 billion in Q4 2013. EBITDA for the three month period under review decreased by 22% to LKR3.9 billion, down from LKR5.0 billion y-o-y.