The National Telecommunication service provider, Sri Lanka Telecom (PLC) released its Company and Group financial results for the 9 months ending September 30, 2018.
The Group comprises of the holding company Sri Lanka Telecom (PLC) and its eight subsidiaries including mobile arm Mobitel (Pvt.) Ltd.
With an impressive Year on Year (YoY) growth of 23.4%, the group reported Net Profit After Tax of Rs.3.99 bn in the last nine months. The continued revenue growth of the group has largely contributed to the improvements of the Net Profits. Backed by all the revenue streams including fixed voice, data, mobile, carrier businesses, television and the corporate business segment the Group record Rs.60.1 bn revenue with an 6.6% YoY growth during the period under review.
Resulting of better revenue growth coupled with cost control initiatives the Group was able to record a strong EBITDA (Earnings Before Interest Tax Depreciation and Amortization) a margin of 31.1% while reporting Rs.18.7 bn EBITDA during the nine months under review with 15.8% YoY growth.
Net Profits of the group was impacted the by foreign exchange losses of Rs.1.1 bn during the period under review.
The Group Chairman Kumarasinghe Sirisena expressed his pleasure on healthy growth rate and strong results of the Group.
“We are living in a fast paced digital era where the consumer’s needs and interest for Digital solutions such as Ultra-fast Fibre connectivity (FTTH), wireless 4G connectivity (LTE), and Cloud technologies are growing. It is our responsibility meet our customer needs. This is why we are transforming our Company to become a Digital Service provider” said Kiththi Perera, CEO of the holding company.
The holding Company, SLT reported an outstanding YoY Net Profit growth of 75% to reach Rs.1.3 bn during the first nine months of 2018.
The company continued to grow its revenue through its extensive investment programs carried out during the recent past to expand infrastructure facilities in order to provide high quality services to the customers through demanding technologies such as FTTH and LTE. As a result, the company revenue increased by 5.6% to reach Rs.35.3 bn during the first nine months of 2018.
Priyantha Fernandez, COO said “We continue to focus on operational excellence in all segments whilst improving customer experience through strong regional structure spread across the country. Therefore we are well poised to serve the diverse requirements of our customers.”
The subsidiary Mobitel continued to grow its revenue and key profitability indicators despite challenging macroeconomic environment and intensifying competition in the market.
The Group comprises of the holding company Sri Lanka Telecom (PLC) and its eight subsidiaries including mobile arm Mobitel (Pvt.) Ltd.
With an impressive Year on Year (YoY) growth of 23.4%, the group reported Net Profit After Tax of Rs.3.99 bn in the last nine months. The continued revenue growth of the group has largely contributed to the improvements of the Net Profits. Backed by all the revenue streams including fixed voice, data, mobile, carrier businesses, television and the corporate business segment the Group record Rs.60.1 bn revenue with an 6.6% YoY growth during the period under review.
Resulting of better revenue growth coupled with cost control initiatives the Group was able to record a strong EBITDA (Earnings Before Interest Tax Depreciation and Amortization) a margin of 31.1% while reporting Rs.18.7 bn EBITDA during the nine months under review with 15.8% YoY growth.
Net Profits of the group was impacted the by foreign exchange losses of Rs.1.1 bn during the period under review.
The Group Chairman Kumarasinghe Sirisena expressed his pleasure on healthy growth rate and strong results of the Group.
“We are living in a fast paced digital era where the consumer’s needs and interest for Digital solutions such as Ultra-fast Fibre connectivity (FTTH), wireless 4G connectivity (LTE), and Cloud technologies are growing. It is our responsibility meet our customer needs. This is why we are transforming our Company to become a Digital Service provider” said Kiththi Perera, CEO of the holding company.
The holding Company, SLT reported an outstanding YoY Net Profit growth of 75% to reach Rs.1.3 bn during the first nine months of 2018.
The company continued to grow its revenue through its extensive investment programs carried out during the recent past to expand infrastructure facilities in order to provide high quality services to the customers through demanding technologies such as FTTH and LTE. As a result, the company revenue increased by 5.6% to reach Rs.35.3 bn during the first nine months of 2018.
Priyantha Fernandez, COO said “We continue to focus on operational excellence in all segments whilst improving customer experience through strong regional structure spread across the country. Therefore we are well poised to serve the diverse requirements of our customers.”
The subsidiary Mobitel continued to grow its revenue and key profitability indicators despite challenging macroeconomic environment and intensifying competition in the market.
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