Tele Net

Aug 03, 2013 (LBO) – Profits at Sri Lanka’s Dialog Axiata rose 11 percent to 950 million rupees in the June 2013 quarter, amid forex losses coming from currency depreciation, the company said. At its core mobile unit, revenues grew 12.5 percent to 13.7 billion rupees and profits rose 14.9 percent to 985 million rupees.

Dialog said it had 8 million customers.

The company said in the first half of the year, Dialog Broadband Network, its fixed access unit had posted revenues of 2.9 billion rupees, and lost 97 million rupees, which was less than the 186 million a year ealier.

Earnings were 11 cents per share in the quarter. In the six months to June profits earnings were 31 cents per share on total profits of 2.54 billion rupees.

Revenues rose 11 percent to 15.6 billion rupees in the June quarter from a year earlier, and direct costs rose at a faster 15.5 percent to 9.3 billion rupees but the group grew gross profit 5 percent to 6.2 billion rupees.

The firm said it was hit by an 856 rupee loss on foreign exchange loans but it received a 429 million rupee telecom development refund from the regulator.