Sri Lanka Telecom posted net profits of Rs 1.5 billion

Sri Lanka Telecom (SLT), the dominant fixed line operator, posted net profits of Rs 1.5 billion (up 41 per cent), while revenues surged 25 per cent to Rs 8.6 billion despite continued losses from its mobile subsidiary and a levy on international calls. The company sold around 70,000 new CDMA connections. SLT, which carries an AAA rating from Fitch Ratings Lanka, controls 86 per cent of Sri Lanka’s fixed line market and 15 per cent of the cellular market.