Mobile Momentum

Aug 04, 2011 (LBO) – Sri Lankan mobile phone operator Dialog Axiata group said June 2011 quarter net profit was stagnant at 1.4 billion rupees from a year ago with sales up 8.9 percent to 11 billion rupees. Losses from the group’s television operations were also reduced to 12 million rupees from a loss of 172 million rupees a year ago. Earnings per share for the quarter were 17 cents compared with 16 cents the year before with tax costs falling sharply, according to interim results filed with the stock exchange.

According to a segmental analysis for the period ended June 2011, operating profit from mobile fell to 2,892 million rupees from 3,362 million rupees the previous year.

Losses from Dialog’s fixed broadband business were reduced to 402 million rupees in June 2011 from a loss of 697 million rupees the year before.