Dialog rings healthy growth in 1H

Dialog Axiata Plc has boosted its after tax profit to Rs. 2.9 billion at Group level in the first half up from Rs. 2.5 billion a year earlier and bottom line was Rs. 2.85 billion up from Rs. 2.54 billion.
Group revenue grew from Rs. 30.8 billion in first half of 2013 to Rs. 33 billion in the six months ended on 30 June 2014.
At Company level Dialog boosted its after tax profit to Rs. 3.45 billion in the first half of FY14 from Rs. 2.67 billion a year earlier. Net profit attributable to equity holders was Rs. 3.38 billion, up from Rs. 2.67 billion. Pre-tax profit grew from Rs. 3.2 billion to Rs. 4 billion.
The impressive bottom line growth is despite lower growth in top line. Revenue rose from Rs. 27 billion in FY13 first half to Rs. 28.5 billion in the current year’s first six months. Gross profit grew from Rs. 11.9 billion to Rs. 12.6 billion.
Mobile operations posted an operating profit of Rs. 4 billion whilst television business posted a Rs. 244.5 million. Fixed telephony and broadband operations posted a loss of Rs. 632 million.
During the first half of FY14, Dialog Group had invested Rs. 5.6 billion in capital expenditure.
In the second quarter, Group revenue was Rs. 16.6 billion, up from Rs. 15.6 billion and gross profit grew from Rs. 6.3 billion to Rs. 7.3 billion. However operating profit was flat at Rs. 2.1 billion.
Pre-tax profit amounted to Rs. 1.95 billion, up from Rs. 1.2 billion and after tax profit was Rs. 1.65 billion, up from Rs. 950 million in the second quarter of last financial year.
Retained earnings at Company level was Rs. 24.4 billion, and at Group basis it was Rs. 13.8 billion.