Night Shift

Sri Lanka Telecom, the island’s largest fixedline operator, said Wednesday its group net profits rose 91 percent to Rs. 2.5 billion, for the nine months to Sept. 30 2005, over the same period last year. Sri Lanka Telecom, the island’s largest fixedline operator, said Wednesday its group net profits rose 91 percent to Rs. 2.5 billion, for the nine months to Sept. 30 2005, over the same period last year. Net profits for the three months to Sept. were up 38 percent to Rs. 1,109 million, over a 12 percent or Rs. 8.4 billion rise in group revenues.

For the nine months period, group operating profit remained flat at Rs. 5.8 billion, as SLT made its money through prudent treasury management and lower fees paid on international traffic.

“The results are not that fantastic, but they have made money on treasury management and also generated a lot of cash during the nine months,” observes Hasitha Premaratne, Head of Research HNB Stockbrokers.

The telco giant, made a billion rupee profit from International Operators’ Levy came down from Rs. 2,067 million to Rs. 1,066 million during the nine months period.

Interest expenses were down 17 percent to 1,553 million, while interest income rose 216 per