Nov 08, 2013 (LBO) – Sri Lanka’s Dialog Axiata reported profits of 1.5 billion rupees for the September 2013 quarter, sharply down from a year earlier, when the bottom line was boosted by a one-off item. The group reported pre-tax profits of 1.8 billion rupees, down from 2.4 billion rupees a year earlier, but were higher than the 1.2 billion rupees reported in the June quarter.
The telecom group reported earnings of 19 cents per share for the quarter. In the nine months to September the group reported earnings of 51 cents per share, on total profits of 4.0 billion rupees, down from 5.0 billion a year earlier.
Dialog Axiata is Sri Lanka’s largest mobile operator and also has interests in wireless fixed access and pay television.
In the 2012 September the firm reported profits of 4.7 billion rupees for the September quarter, with a 2.2 billion rupee tax reversal and net finance income.
In 2013, revenues in the quarter rose 11.6 percent to 16.1 billion rupees and cost of sales kept pace rising 11 percent to 9.3 billion rupees, but the firm also grew gross profit 12 percent to 6.8 billion rupees.
Finance costs were 401 million rupees in the September quarter, compared to finance inco