Tele Stability

May 16, 2013 (LBO) – Mobitel, a unit of Sri Lanka Telecom has made a profit of 640 million rupees in the March 2013 quarter, turning around from a loss of 950 million rupees, a year earlier, its parent said. Losses last year came from currency depreciation, the firm said.

Revenues had grown 10 percent to 6.6 billion rupees from a year earlier, amidst intense competition.

The firm said subscribers had grown 14 percent in the quarter compared to a year earlier without elaborating.

Sri Lanka had 20.3 million subscribers by December 2012.