Sri Lanka Telecom (SLT), including mobile operator Mobitel, has released its group and company financial results for the six months ended 30 June 2012, recording a 15% year-on-year increase in consolidated operating profit (EBIT) to LKR3.36 billion (USD25 million) on group revenues that climbed by 11% to LKR27.50 billion in the same period. Depreciation of the Sri Lankan rupee continued to have a significant adverse impact on group net profitability, due to US dollar exposure at subsidiary Mobitel; net income declined by 56% year-on-year in the first six months of 2012 to LKR1.06 billion. Parent company SLT recorded fixed line division revenue growth of 7.3% in January-June 2012 to reach LKR17.15 billion, the highest growth rate achieved since 2006, driven by non-traditional revenue streams such as fixed broadband, IPTV (‘PEOTV’), wholesale, enterprise and international services.
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OVETEL Mobitel’s revenues rise 12%, helping drive SLT turnover up 11%
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