Dialog Telekom returns to profit.

Despite severe competition faced by mobile telecom industry in Sri Lanka Dialog Telekom has managed to turn back to profit.  

For the quarter ended 31^st March 2010 Dialog Group made profit of Rs 705,056,000.00 against loss of Rs 1,868,564.00. Although it is only 0.08 cents per share it was a remarkable achievement in a highly competitive environment. Group turnover has improved to 9.79 billion rupees from 8.47 billion for the comparative period last year.

Sri Lanka’s Telecom industry faced deadly competition after entering fifth mobile player Airtel (Indian Company). Price war was started even before they start their commercial operations early last year.    

Dialog Telekom shares traded at Rs 9.00 in early trading today.