Sri Lanka Telecom (SLT)’s net profit for the first quarter of 2009 ending 31 March 2009 fell by 42% to Rs.971 million from Rs.1,663 million for the corresponding period in 2008. According to the company’s quarterly interim financial report, the Group revenue increased by 2% for the period under review to Rs.11,837 million from Rs.11,600 million the previous year. However, operating costs increased by 24% to Rs.6,894 million in the first quarter of 2009 from Rs.5,572 million last year.
The interim financial report shows that the Group’s operating profit decreased by 45% for the first three months of 2009 to Rs.1,386 million from Rs.2,541 million the previous year. According to the consolidated cash flow statement for the first quarter of 2009, the Group’s net cash generated from operating activities was Rs.3,778 million compared to Rs.1,278 the previous year. However, the net cash used in investing activities which included the acquisition of property, plant and equipment as well as the acquisition of intangible assets increased in 2009 to Rs.4,336 million from Rs.2,341 million in 2008. The Group’s cash and cash equivalents as at 31 March 2009 was Rs.17,009 million, up from Rs.15,294 the previous year.
According to the report, a final dividend for 2007 at Rs.1 per share was paid on 4 April 2009. Information on share trading for the first quarter of 2009 states there were 1,157 transactions with over 1.624 million shares traded with a value of Rs.56,547,948.
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