Telco Trends

Directory launched in the presence of Jagath Perera, CA Sri Lanka President, Manil Jayesinghe, CA Sri Lanka Vice President, Harsha Basnayake, Ernst & Young Asia Pacific Transaction Advisory Managing Partner, Aruni Rajakarier, Chairperson of the CA Sri Lanka Women Empowerment Committee, Anoji De Silva, Alternate Chair of the Women Empowerment Committee and Dulani Fernando, CA Sri Lanka CEO

May 10, 2011 (LBO) – Sri Lanka Telecom’s March 2011 quarter net profit rose 114 percent to 1,295 million rupees from a year ago with sharp gains from value-added services and the traditional fixed line business. Group sales rose two percent to 12.4 billion rupees in the quarter ending March 31, 2011, according to interim accounts filed with the stock exchange.

Basic earnings per share rose to 72 cents from 33 cents the year before.

SLT’s mobile unit Mobitel made an operating profit of 550 million rupees, up from 538 million rupees the year before.

SLT’s operating profit from value added services rose to 574 million rupees in the March 2011 quarter from 253 million rupees in the same period of 2010.

The fixed line business, in which SLT dominates being a former government monopoly, made an operating profit of 428 million rupees in the March 2011 quarter up from 326 million rupees the previous year.

Operating profit from other network operations fell to 74 million rupees from 114 million rupees.