Sri Lankan Telecom (SLT) Group post-tax profit fell to Rs.1.45 billion in the quarter ending March 2017 from Rs.1.72 billion, in the corresponding 2016 quarter due to a multitude of reasons.
Tax changes made by the government had an adverse impact on the group’s revenue growth which impacted on profitability as well. The continued slide of the rupee against the US dollar led to a foreign exchange loss of Rs. 364 million, the company said in quarterly results announced on Monday.
“As a pioneer in the ICT industry and as part of a market that shifts very quickly, the SLT Assemblage continuously strives to remain technologically innovative. As such the group continues to accelerate multiple projects, especially the long-term evolution (LTE) project and the fibre to the home (FTTH) under which was rolled-out 1,000 LTE base stations and 100,000 fibre ports respectively. A significant addition to the mobile industry is underway with Mobitel’s forthcoming 4G expansion,” it said.
A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 72 squadron has crashed into the Madhuru Oya reservoir this morning, Air FOrce Media Spokesman Eranda Geeganage said.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
In its first electoral test since taking power, the ruling National People’s Power (NPP) fell short of expectations, winning only around 40 % of the national vote in Tuesday’s local government election and falling short of enough seats to gain control of the majority of councils.
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