Feb 22, 2012 (LBO) – Sri Lanka Telecom Plc group said net profit for the December 2011 quarter fell 17 percent to 1.26 billion rupees from a year earlier, with revenues at core wireline business slowing, interim accounts showed. The group reported earnings of 71 cents per share. In the year to December the group reported earnings of 2.65 rupees on profits of 4.7 billion rupees, up 21 percent.
SLT had invested 17.8 billion rupees in capital expenditure in 2011 sharply up from 6.4 billion rupees a year earlier.
SLT operates Sri Lanka’s sole wireline provider and also owns, Mobitel, a cellular firm.
At company level, revenues fell 2 percent to 8.1 billion rupees. Profits fell 21 percent to 852 million rupees.
At group level, revenues grew 4.0 percent to 13.4 billion rupees and expenses grew at a faster 6 percent to 9.4 billion rupees.
In the quarter the firm reported 553 million rupee refund from a telecom development fee.