Feb 11, 2011 (LBO) – Sri Lankan mobile phone operator Dialog Axiata group made a net profit of 1.3 billion rupees in the December 2010 quarter compared with a loss of 2.2 billion the year before, a stock exchange filing said. Sales in the quarter rose 10.7 percent to 10.8 billion rupees. The firm’s diluted earnings per share for the quarter were 16 cents against a loss per share of 28 cents a year ago.
For the full year ended December 31, 2010, Dialog made a net profit of five billion rupees compared with a loss of 12.2 billion the year before. Diluted EPs for the year were 59 cents compared with a loss of 1.65 rupees the previous year.
Sales during 2010 rose 13 percent to 41.4 billion rupees from the previous year. The accounts also showed a sharp fall in administration costs to seven billion from 18 billion rupees in 2009.
Dialog said it will make a first and final dividend of 20 cents a share for the 2010 financial year, amounting to 1.6 billion of group profits after preference dividend.
The accounts showed Dialog paid 10 million US dollars as loan repayment to its Malaysian parent Axiata Investments (Labuan), formerly known as TM International in December 2010.
A segmental analysis showed Dialog m