Tele Net

Nov 12, 2013 (LBO) – Profits at Sri Lanka Telecom, the island’s only wireline operator which also has a mobile unit, fell 15 percent from a year earlier to 1.56 billion rupees dragged down by forex losses, interim accounts showed. Interest expenses were down 31 percent to 174 million rupees but the group had forex losses of 247 million rupees, compared to gains of 441 million rupees a year earlier.

The group reported earnings of 87 cents per share. For the six months to September, the group reported earnings of 2.16 rupees per share on total profits of 3.1 billion rupees, which were up 24 percent.

The stock closed at 38.00 rupees, down 10 cents.

In the September quarter revenues were up 7 percent to 15.44 billion rupees, expenses were up 6 percent to 10.2 billion rupees and gross profits rose 10 percent to 5.1 billion rupees.