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Sri Lanka : SRI LANKA'S TELECOM profit before tax

May 27, 2014

The Sri Lanka Telecom Group posted Rs. 984 million profit before tax for the 1Q. It has released its Group and Company financial results for the 1st quarter 2014. The group comprises of holding Company SLT and 7 subsidiaries including mobile arm Mobitel (Pvt) Ltd.

It reported 6% year-on-year growth of revenue during the 1Q 2014, to Rs. 15.3 billion. The growth was contributed by operational segments of the group. Operating cost of the group was up by 13% YoY to Rs. 11.1 billion. Rs. 673 million charged to the operating cost, resulting from an out of Court Settlement of a civil litigation in relation to import IPTV system in 2007/ 2008, has largely contributed to the operating cost increase.

Group EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) margin was dipped to 27% during the quarter which was driven by the impact of operating cost increase with inflationary factors.

During the 1Q 2014 operating profit of the group dipped by 50% YoY to Rs. 810 million resulting from increase of operational costs and depreciation. Depreciation of the group increased by 12% compared to the corresponding period to Rs. 3.2 billion resulting from re-instatement of fully depreciated assets.

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Source: TendersInfo (India)

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