July 26, 2010 (LBO) – Sri Lankan mobile phone operator Dialog Axiata made a net profit of 1.37 billion rupees in the June 2010 quarter compared with a loss of 7.24 billion rupees a year ago, a stock exchange filing said. Sales rose 14.3 percent to 10.16 billion rupees over the period while administration costs fell to 1.6 billion rupees from nine billion rupees the year before owing to cost cutting.
Basic earnings per share were 0.16 rupees compared with a loss of 0.99 rupees per share in the June quarter of the previous year.
The number of Dialog subscribers rose 10 percent to 6.6 million at end of June 2010 from a year ago.
“The company continued to register positive gains in the mobile market during the second quarter of 2010, on the backdrop of aggressive competition,” a statement said.
“Company revenue grew by a robust 15 percent compared to the first half of 2009 and by two percent quarter-on-quarter.”
The Dialog group returned to profitability in the March 2010 quarter after suffering a string of losses in previous quarters owing to higher costs and a price war brought on by stiff competition.
It said in the first half ending June 2010 it made a foreign exchange translation gai