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Tele Profits

Feb 23, 2011 (LBO) - Sri Lanka Telecom said it made a profit of 1,542 million rupees in the December quarter from a loss of 379 million rupees a year earlier, helped by a turnaround of its mobile unit, while revenues rose 6 percent to 12.
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9 billion rupees.

Malaysia's UT group owns 49.8 percent of the firm and Sri Lanka's government, 49.

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50 percent.

The group reported 85 cents of earnings per share for the quarter.

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The stock traded at 59.00 rupees up 40 cents, Tuesday.
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In the year to December group revenues rose 5.0 percent to 50.2 billion rupees and profits rose 402 percent to 3,943 million rupees, resulting in earnings of 2.

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18 for the full year.

SLT said at company level, which mainly runs the fixed line business, revenues dropped to 33.

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21 billion rupees in 2009 " mainly due to price pressures and alternative solutions available in the market."

But the firm said its after tax profit margins were up to 7 percent from 4 percent and earnings before interest tax depreciation and amortization (EBITDA) margin was 30 percent.

Chairman Nimal Welgama said in a statement that the firm now has 8,000 kilometres of optical fibre cables, 200,000 fixed broadband customers, up 36 percent (57,000) from a year earlier, 1.

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4 million fixed lines
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