Nov 03, 2010 (LBO) – Sri Lanka Telecom, the island’s largest fixed access operator, which also has a mobile unit said it made 1,027 million rupees in profits in the September 2010 quarter, against a loss of 189 million rupees a year earlier. At company level, which is mostly fixed access, revenues edged down 1.0 percent to 8,580 million rupees but profits in the quarter rose to 551 million rupees from 298 million a year earlier, despite operating cost rising to 5.7 billion rupees from 5.1 billion.
In the September 2009 quarter, the firm charged a 480 million voluntary retirement cost to the profit and loss account. Depreciation cost also fell to 1.6 billion rupees from 2.0 billion a year earlier.
At group level, which include mobile operations, revenues rose 4.0 percent to 12.7 billion rupees and finance cost more than halved to 276 million rupees from 620 million rupees.
The group reported earnings per share of 57 cents for the quarter up from a loss of 10 cents a year earlier. For the nine months to September earnings were 1.33 rupees.
The stock traded at 45.60 rupees on Wednesday.
The firm has invested 4.5 billion rupees in fixed assets in the nine months to September down from 13.3 billion rupees. But SLT is lo