Sri Lanka Telecom profit down 38-pct in June quarter

Sri-Lanka-Telecom

Aug 16, 2016 (LBO) – Sri Lanka Telecom, the island’s largest telcos profits fell 38 percent to 1.09 billion rupees in the June 2016 quarter from an year earlier.

The company’s interim accounts showed that the group reported earnings of 0.61 rupees per share for the quarter while in the six months to June earnings of 1.56 rupees per share was recorded. The company’s stock was last traded at 37.20 on Monday.

Firm revenues in the June quarter were 10.506 billion rupees, up 4.8 percent from 2015.

SLT said that the group continues to expand its infrastructure for both fixed and mobile services to offer new products and solutions with the objective of maintaining its position as a reliable service provider and meeting the national interest of Sri Lanka.