Sri Lanka Telecom on Thursday reported a 38 percent surge in after tax profits for the nine months ending September 30, 2002.
SLTs net profits touched Rs. 2.425 mn up from Rs. 1.763 mn in 2001. Its revenues rose 15 percent to Rs. 18.579 mn as against Rs. 16.159 mn in the same period 2001.rn
rnOperating profits picked up 26 percent to Rs. 6.020 mn from Rs. 4.765 mn in 2001.rn
rnThe telco giant trimmed its interest expenses by 10 percent to Rs. 2.159 mn from Rs. 2.405 mn in the same period 2001. Interest in come during the period fell 34 percent to Rs. 413 mn from Rs. 621 mn.rn
rnProfits from associate companies picked up 5 percent to Rs. 41 mn as against Rs. 39 mn in 2001.rn
rnWhile profits before tax was up 43 percent to Rs. 3.997 mn, SLT had provided 51 percent more for taxes. Taxation during the period rose to Rs. 1.572 mn from Rs. 1.041 mn in the corresponding period 2001.rn
rnCommenting on SLTs performance, DFCC Stockbrokers say the results are very much in line with their earlier Novembe