Oct 28, 2011 (LBO) – Sri Lankan mobile phone operator Dialog Axiata’s September 2011 quarter group net profit fell 17.7 percent to 1.4 billion rupees from a year ago with sharply higher tax costs as well as finance expenses. Sales rose 10.3 percent to 11.7 billion rupees. Diluted earnings per share rose to 26 cents from 20 cents, a stock exchange filing said.
Tax costs shot up to 260 million rupees in September 2011 from 87 million rupees the year before.
The group’s television and fixed broadband operations reduced losses with the loss from its TV business down to 19.6 million rupees up to September 2011 from 216 million in 2010 and that from broadband down to 657 million rupees from 839 million rupees.
“The group recorded strong revenue growth across all segments to reach 11.6 billion rupes for the third quarter,” a company statement said.
Group revenue for the nine months ending 30th September 2011 was 33.7 billion rupees, up five percent quarter-on-quarter, it said.
“Revenue growth combined with effective cost management lead to the group posting a healthy growth in EBITDA (earnings before interest, tax, depreciation and amortisation) with third quarter 2011 EBITDA at 4.3 billion.”