Feb 26, 2014 (LBO) – Profits at Sri Lanka Telecom surged 98 percent to 1.48 billion rupees in the December 2013 quarter from a year earlier, with broadband and television revenues growing, while voice weakened, the company said. SLT owns and operates Sri Lanka only wireline service.
The group said the holding company Sri Lanka Telecom (PLC) had annual revenues of 36.8 billion rupees, up 5.9 percent from a year earlier.
Revenues in the December quarter rose 5.8 percent to 9.9 billion rupees from a year earlier, helped by broadband and its PEO TV pay television service, while voice and international revenues fell.
Mobitel had annual revenues o 27.5 billion rupees up 2.6 billion rupees from a year earlier. In the fourth quarter revenues topped 7.0 billion rupees, up 9 percent from a year earlier.
Mobitel saw subscribers topping 5.0 million despite the mobile market being saturated, the company said. Investments in third and fourth generation technology are drawing broadband revenues, the company said.
The group reported earnings of 84 cents per quarter. For the year to December the group reported earnings of 3.0 rupees per share on total profits of 5.4 billion rupees which were up 38 percent.