Dialog Telekom on Monday reported a Rs. 3.44 bn net profit for the fist half of 2005 – pushing its bottom line up 76.6% over 2004. Dialog Telekom on Monday reported a Rs. 3.44 bn net profit for the fist half of 2005 – pushing its bottom line up 76.6% over 2004. The bottom line increase comes with a 61.4% increase in sales at Rs. 8.14 bn and a 46.7% jump in operating expenses at Rs. 2.6 bn.
Financial analysts earlier this year forecasted profits at the mobile operators to hit around Rs. 6.8 billion for the entire year, beating the Rs. 4.1 bn after tax profit recorded for 2004. .
Dialog Telekom chief Hans Wijayasuriya meanwhile in an earlier interview said the firm expected profits to climb 52% to Rs. 6.24 billion in 2005.
With over 1.4 million subscribers, Dialog commands 60 percent of Sri Lanka’s cellular market and 40 percent of the overall telecom industry.
Sri Lanka’s cellular penetration is forecasted to grow to 15.2 percent from the present 11.3 percent by the end of 2005.
The island’s telecommunication sector grew 37 percent in 2004 over the corresponding period 2003, according to Central Bank statis