Dialog posts Rs.1.1bn net in 4Q

19 February 2014 05:15 am Views - 5984

Dialog Axiata, the local unit of Malaysia’s Axiata Group said its net profit for the quarter ended December 31, 2013 (4Q13) increased to Rs.1.1 billion from Rs.927 million it reported in the same period last year.

The revenue for the period rose to Rs.16.3 billion from Rs.15 billion. A considerable reduction in administrative costs enabled the group to post an operating profit of Rs.1.3 billion, up from Rs.720 million.

The Earnings per Share stood at 14 cents, up from 11 cents. The company declared a dividend of 29 cents per share.

In a press statement, Dialog said that there was a non-cash forex gain of Rs.347 million during the quarter.

Meanwhile, for the financial year ended December 31, 2013, Dialog posted a net profit of Rs.5.2 billion, down from Rs.6 billion recorded in the previous year. However the revenue for the year rose to Rs.63.2 billion from Rs.56.3 billion.

A segment analysis showed the main mobile operation segment reporting an operating profit of Rs.8.3 billion with a revenue of Rs.54.7 billion compared to an operational profit of Rs.6.9 billion and Rs.49.1 billion in 2012.

The company has an eight million subscriber base.

The fixed broadband operations reported an operational loss widened to Rs.385.5 million from Rs.135.3 million in 2012 with a revenue of Rs.4.9 billion, up from Rs.4.2 billion.

The pay TV operations of Dialog reported an operational loss of Rs.248 million against an operational profit of Rs.58.2 million. However, the segment’s revenue rose to Rs.3.6 billion from Rs.2.97 billion in 2012.

Meanwhile, the shareholding structure of the company showed that state-controlled superannuation fund, Employees’ Provident Fund had increased its holding in Dialog to 2.62 percent during 4Q13 from 2.18 percent as at September 30, 2013.

During the same period, state-controlled Sri Lanka Insurance Corp. had reduced its stake in Dialog from 0.81 percent to 0.15 percent.