Nov 07, 2019 (LBO) – Profits at Sri Lanka’s Dialog Axiata group, which has interests in Mobile, Fixed Line, and Digital Pay TV, declined 14 percent to 1.5 billion rupees from a year earlier in the September quarter, interim accounts showed.
The company said the decline in Group Net Profit After Tax is mainly due to non-cash translational forex losses resulting from 3 percent depreciation of the Sri Lankan Rupee against the US Dollar for the quarter.
“Normalised for the said non-cash translational forex losses NPAT was up 19% QoQ albeit declining 29% YoY,” the company said.
"Dialog Group continued to be a significant contributor to state revenues, remitting a total of Rs25.
5Bn to the Government during the nine months ended 30th September 2019.
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The group reported earnings of 18 cents per share for the quarter compared to 21 cents per share a year ago.
Group Revenue remained flat on a Quarter-on-Quarter basis to reach 29.
1 billion for Q3 2019 mainly due to intense competition and gradual recovery in core revenues following the Easter Sunday incident.
Group EBITDA grew 8 percent QoQ to reach 11.
9 billion for Q3 2019 driven by continued focus in cost efficiencies. On a YoY basis Revenue and EBITDA grew 4 percent and 7 percent respectively.
The Group continued its growth momentum across the business to record consolidated revenue of 87.
2 billion for the nine months ended 30 September 2019, demonstrating growth of 8 percent Year-to-Date.