Chat Profits

Feb 18, 2013 (LBO) – Sri Lanka’s Dialog Axiata, which has interest in mobile, fixed telecom and pay television said group profits fell 30 percent to 928 million rupees in the December 2012 quarter from a year earlier, dragged down by write-offs. The group reported earnings of 12 cents per share for the quarter. For the year December earnings of 75 cents per share, on total profits of 6.0 billion rupees, that grew 23 percent from a year earlier, accounts filed with the Colombo Stock Exchange showed.

In the December quarter revenues rose 25 percent to 14.9 billion rupees, but expenses grew at a faster 32 percent to 8.6 billion rupees and gross margins grew at a slower 16.5 percent to 6.3 billion rupees.

At the core mobile operation revenues rose 20 percent to 13.1 billion rupees, expenses rose at a faster 26 percent to 7.3 billion rupees and gross profits rose 13 percent to 5.8 billion rupees.

The firm said a 931 million rupee write down of old equipment was made in the December quarter. The company has written down equipment before.

But finance income was a positive 228 million rupees against a 530 million rupee expense a year earlier.

Sri Lanka’s rupee which fell in the first half of 2012, started to appreciate during t