Sri Lanka’s Dialog Axiata net up 35-pct in March quarter


May 12, 2016 (LBO) – Profit after tax at Sri Lanka’s Dialog Axiata group, which has interests in mobile, fixed and pay television rose 35 percent to 2.6 billion rupees from a year earlier in the March quarter, interim accounts showed.

Revenues grew 22 percent to 21.1 billion rupees in the quarter from a year earlier, direct costs rose at a slower 19 percent to 11.4 billion rupees and gross profits rose 26 percent to 9.7 billion rupees.

The group reported earnings of 33 cents per share for the quarter compared with 24 cents per share a year ago.

As at the end of financial year mobile segment of the group has made revenue of 18 billion rupees while the fixed and broadband segment reporting 2 billion rupees in revenue.

Pay television has recorded 1.5 billion rupees revenue while crossing 701,000 subscriptions as at the end of March 2016.

The Group has remitted a total of 6.8 billion rupees to the Government during March 2016 quarter and capital expenditure for the quarter was recorded at 2.9 billion rupees.

Capital expenditure has been directed in the main towards investments in high speed broadband infrastructure alongside the extension of the Group’s Optical Fibre Network.

As at the end of 2016 financial year, 21,020 public shareholders were holding 16.68 percent of the total shareholding of the company.