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| Sunday, 26 June 2005 |
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Business |  |
| News Business Features Editorial
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SLT posts Rs. 1.06 billion net profit in Q1, 2005 Sri Lanka Telecom (SLT), recently posted a substantial three months profit of Rs. 1.06 billion after tax. This figure was achieved in spite of negative market conditions and the liberalisation of the telecommunication industry recently. This number is still impressive although it has been reduced to Rs. 909 million due to moderate losses of its fully owned subsidiary Mobitel. The net earnings per share of the group for 2005 was a substantial Rs. 2.01 as against Rs. 1.43 in 2004. There was also welcome news that the company experienced a marginal increase in revenue of 2% as against the same period in 2004, mainly from an increase in local call revenue and Internet Provider (IP) oriented revenue. However, expenditure for the same time also increased by 5% mainly due to the efforts to improve the network through repair and maintenance. |
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