Thursday, November 27, 2008

Sri Lanka Telecom earnings fell 31 per cent on stiff competition

Sri Lanka Telecom Ltd (SLT) - which Malaysian billionaire T. Ananda Krishnan indirectly controls more than 35 per cent - saw its Q3 net profit down by almost one-third after reducing call rates at its mobile phone unit (Mobitel).

Mobitel is trying to close its gap with Dialog Telekom Ltd (controlled by TM International), by offering cheaper packages for state workers.

It is also investing heavily to expand its network. In September, it borrowed US$45 million, part of it will be used to fund its high-speed network expansion outside Colombo.

Net profit dropped to 1.24 billion rupees during the quarter, against 1.8 billion rupees a year ago.

Global Telecommunications Holdings NV, a subsidiary of Usaha Tegas Sdn Bhd, owns over 35 per cent in SLT. The Sri Lankan government also owns 49.5 per cent in SLT.

1 Comment:

Sankar said...

IEEE Final Year projects Project Center in Chennai are consistently sought after. Final Year Students Projects take a shot at them to improve their aptitudes, while specialists like the enjoyment in interfering with innovation. For experts, it's an alternate ball game through and through. Smaller than expected IEEE Final Year project centers ground for all fragments of CSE & IT engineers hoping to assemble. Final Year Project Domains for IT It gives you tips and rules that is progressively critical to consider while choosing any final year project point.

JavaScript Training in Chennai

JavaScript Training in Chennai

The Angular Training covers a wide range of topics including Components, project projects for cseAngular Directives, Angular Services, Pipes, security fundamentals, Routing, and Angular programmability. The new Angular TRaining will lay the foundation you need to specialise in Single Page Application developer. Angular Training

 

blogger templates | Make Money Online