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Sri Lanka Telecom (SLT) recorded a group turnover of Rs 7.5 billion for the first quarter of 2005 as against Rs. 7.1 billion during the corresponding three months of 2004. Operational expenses were Rs. 3.4 billion for the first quarter, up from Rs. 3.2 billion during the first three months of 2004.

EBITDA for the 2005 quarter in review - Rs. 4.0 billion, up from Rs. 3.8 billion during January-March 2004.

Depreciation - Rs. 2.3 billion from Rs. 2.1 billion in the first quarter of 2004.

EBIT - Rs. 1.7 billion for the first quarter of 2005 from Rs. 1.6 billion during the first quarter of 2004.

Net interest income/(expenses) Rs. 354 million, compared to Rs. 636 million during the first quarter of 2004. Non operational Inc/expenses from January-March 2005 - Rs. 24 million as against Rs 19. million in the first quarter 2004.

International Operations Levy (ILT) for the first quarter of 2005 - Rs. 157 million, a 100 percent increase over that of the corresponding quarter of 2004. Tax - for first quarter of 2005 Rs. 310 million from Rs. 418 million during the previous year.

EAT Rs. 909 million up from Rs. 647 million during the first quarter of 2004.

Chairman Anil Obeyesekere has told shareholders that it has been a very encouraging quarter for the group in many ways. After the tsunami tragedy and damage to SLT's coastal network, the company has maintained good revenue growth and profitability in the first quarter which ended March 2005.

E.L.

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