Dialog Axiata PLC continued its strong growth momentum across mobile and fixed Line businesses to record a consolidated revenue of Rs 24.2billion (Bn) for Q3 2017 and Rs 69.4 billion for the nine months ended September 30, 2017, demonstrating a growth of 5% quarter on quarter (“QoQ”) and 8% Year to Date (“YTD”) respectively.
The financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”) post-consolidation with subsidiaries Dialog Broadband Networks (Pvt) Ltd (“DBN”), Dialog Television (Pvt) Ltd (“DTV”) and Digital Holdings Lanka (Pvt) Ltd (“DHL”). Following the acquisition of Colombo Trust Finance PLC on September 12, 2017, the assets and liabilities of Colombo Trust Finance have been reflected in the consolidated balance sheet of the Group. The Group continued its strong growth momentum across Mobile and Fixed Line businesses to record a consolidated revenue of Rs24.2Bn for Q3 2017 and Rs69.4Bn for the nine months ended 30th September 2017, demonstrating a growth of 5% Quarter on Quarter (“QoQ”) and 8% Year to Date (“YTD”) respectively. Downstream of revenue, Group EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) recorded a growth of 16% QoQ and 14% YTD to reach Rs9.4Bn for Q3 2017 and Rs24.8Bn for the first nine months of 2017 on the back of strong recovery in core revenues and cost initiatives. The Group EBITDA margin was accordingly recorded at 35.7%, improvement of 1.6pp YTD.
The quarter featured the removal of 10% Telco Levy for Mobile and Fixed data services, with effect from 1st September 2017. The effective indirect tax on data services reduced from 31.7% to 19.7% and in line with this reduction, all licensed telecommunications operators extended a further 10% data bonus in support of Governments directive to lower taxes.
Group NPAT (Net Profit After Tax) grew 59% QoQ to be recorded at Rs3.7Bn. However, NPAT for the first nine months of 2017 declined by 2% to be recorded at Rs7.6Bn, impacted by increase in depreciation, net finance cost and non-cash translational forex losses.
The Sri Lankan Rupee depreciated 2.2% YTD resulting in a non-cash translational foreign exchange loss of Rs0.4Bn compared to Rs0.2Bn during the corresponding period in 2016.
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