Nov 13, 2008 (LBO) – Sri Lanka’s Dialog Telekom group, a unit of Telekom Malaysia, has reported a loss of 192.4 million rupees for the September 2008 quarter with profits of its core business also falling steeply amid a price-war.
But it had lost 921 million rupees over the first nine months.
Dialog Television had a subscriber base of 117,500. Its revenues had grown to 911 million in the first nine months. It lost 542 million rupees in the 9-months, with a change in accounting policy.
Revenue of Dialog’s mobile division fell to 8.5 billion rupees compared to 8.6 billion in the same quarter last year and costs rose from 3.0 billion to 4.6 billion rupees.
Profits fell to 376 million from 2.7 billion rupees a year earlier, according to interim accounts filed with the Colombo Stock Exchange.
Though the price cuts had resulted in higher usage, the company says the increase in revenue was not enough to offset the rate cuts.
Sri Lanka’s celcos have been aggressively cutting prices ahead of the entry of India’s Bharti Airtel.
Group revenue which includes pay TV and wireless fixed grew to 9.3 billion rupees, from 8.5 billion rupees.
In the first nine months group revenues grew to 27.3 billion rupe