Feb 18, 2012 (LBO) – Sri Lanka’s Dialog Axiata, a unit of Malaysia’s Axiata and the islands largest mobile firm said group profits for the December 2011 quarter rose 11 percent to 1.4 billion rupees, from a year earlier. Fixed broadband operations earned 2.3 billion rupees and lost 942 million rupees at gross level and television operations, which had 2.39 billion rupees in revenues, posted a marginal 26 million rupees at gross profit level.
Dialog Broadband Networks, a wholly owned unit said on December 2011 that it was buying Suntel Ltd, a fixed access provider.
Dialog had deposited 27.9 million US dollars in an escrow account with Standard Chartered Bank Sri Lanka in relation to the purchase of the firm.
The group reported earnings of 17.5 cents per share for the quarter. In the year to December earnings were 65.1 cents per share on profits of 5.3 billion rupees which rose 6.0 percent.
In the December quarter group revenues rose 11 percent to 11.9 billion rupees and cost of sales rose at a faster 13.1 percent to 6.5 billion rupees, allowing gross profits to grow at a slower 9 percent to 5.4 billion rupees.
Annual group revenues grew 10.1 percent to 45.6 billion rupees.
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