Despite turbulent market conditions Sri Lanka Telecom (SLT), the integrated telecommunication services provider, announced favourable results for its first quarter of the financial year ending 31 March 2009. The Group has achieved a net profit of Rs 971 million during this quarter.
The achievement was 42% below, the same quarter compared to that of the previous year due to the increase of operational expenditure and depreciation. Thus, the company achieved a net profit of Rs 734 million, a reduction of 46% compared to the corresponding quarter of the previous year as a result of revenue reductions. During this quarter, the Group revenue was Rs 11,837 million, 2% higher than the 1st quarter of 2008. Thus, the company level revenue had dropped by 11% to Rs 8,392 million. Commenting on the company’s performance, Leisha De Silva Chandrasena, Chairperson of SLT said, “In spite of the adverse economic scenario and gloomy financial conditions prevailing worldwide, SLT has been able to show resilience to weather the storm and bring about performance.”