Sri Lanka Telecom PLC (SLT) releasing its results for the second quarter 2011 said its net profit for the period rose 49 percent to Rs.1, 142 million against the corresponding quarter of the previous year.
Even though the group’s revenue only went up 1 percent during the period, the other income component in the income statement shows a steep increase of 387 percent to Rs.219 million.
The income statement also shows a Rs.150 million refund of Telecommunication Development Charge (TDC).
The group also has spent Rs.6, 773 million as capital expenditure during the first half of the year 2011.
Mobitel, the mobile arm of SLT group recorded a profit before tax of Rs. 977 million and a net profit after tax of Rs 778mn during the 1st half of 2011, recording growth rates of 36% and 44% respectively compared to corresponding period of the previous year.
The fixed lines operations of the group recorded an operating profit of Rs.752 million during the same period.
A media statement issued by the group said “the favorable macroeconomic climate had a positive impact on interest rates, and currency rates too resulting as a contributory factor in significant growth in profit”. (IS)
source - www.dailymirror.lk
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