Tele Gains

Feb 18, 2014 (LBO) – Profits at Sri Lanka’s Dialog Axiata, which has interests mobile, fixed and pay television, rose 20 percent from a year earlier to 1.1 billion rupees in the December 2013 quarter, interim accounts showed. The group reported earnings of 14 cents per share for the quarter. In the year to December the group reported earnings of 65 cents per share on total profits of 5.1 billion rupees, down from 6.0 billion a year earlier.

Dialog said revenues grew 8 percent to 1.3 billion rupees in the December quarter from a year earlier, costs rose 14.1 percent to 9.8 billion rupees and gross profits rose 1.6 percent to 6.4 billion rupees.

There was a non-cash forex gain of 347 million rupees in the quarter, the firm said.

Mobile revenues were up one percent quarter on quarter to 14.2 billion rupees on a subscriber base of 8 million.

Pay television had made a loss of 302 million rupees for the year due to a write down of equipment. Dialog’s fixed and broadband unit had lost 483 million rupees due to depreciation from fourth generation network and spectrum license fees.

Dialog said it would pay a dividend of 29 cents per share.