Mobile Momentum

Oct 27, 2010 (LBO) – Sri Lankan mobile phone operator Dialog Axiata made a net profit of 1.69 billion rupees in the September 2010 quarter compared with a loss of 439 million rupees a year ago, a stock exchange filing said. Sales rose 16.2 percent to 10.56 billion rupees over the period while administration costs fell 30 percent to 1.5 billion rupees owing to cost cutting.

Basic earnings per share were 0.20 rupees compared with a loss of 0.07 rupees per share in the same quarter of the previous year.

“Group profit was underpinned by robust performance at company level, with Dialog Axiata featuring the group’s mobile business, posting a third quarter and nine-months profit of 1.90 billion rupees and
4.99 billion rupees, up 162 percent year-on-year,” a statement said.

Dialog had 6.7 million mobile subscribers as at the end of September 2010, up six percent from a year ago.

Dialog’s fixed line CDMA subscriber base increased by four percent to 183,000.

In the June 2010 quarter, Dialog Axiata made a net profit of 1.37 billion rupees compared with a loss of 7.24 billion rupees in the June quarter the year before.

The statement said that the September 2010 quarter “featured the transient impact of