Sri Lanka Telecom PLC (SLT) announced its financial results for the first nine months of 2019, which again proven to be strong and impressive. The Profit After Tax (PAT) of the Group for the first nine months of 2019 reported at Rs. 5 billion with a 25% YoY remarkable growth compared with the same period the year before.
The Group revenue recorded at Rs. 63.9 billion with a 6% growth to 2018 with a minimum escalation of 3.4% in operating cost at Rs. 56.8 billion. Despite the challenges on voice revenue due to the boom in the internet consumption, all other segments of the Group positively contributed for the revenue growth.
The revenues are expected to further rise in the future with the ongoing accelerated Fiber Expansion Project under the National Fiberization Program. The increase in revenue coupled with the Group cost management strategies resulted a 19% YoY growth in EBITDA to Rs. 22.3 Bn and improvement in EBITDA margin to 35% from 31% in 2018, well demonstrate the sustainability of the Group despite industry challenges. The Operating Profit recorded at Rs. 7 Bn, a 37% YoY growth. The Profit Before Tax (PBT) stood at Rs. 7 billion, 26% up compared to the same period the year before. Reduction in foreign exchange losses by Rs. 1 billion impacted positively while increase in interest cost by Rs. 1.2 billion impacted negatively to the PBT growth. SLT Group paid a total of Rs. 20.1 billion Direct and Indirect taxes and other contributions to the Government of Sri Lanka during the nine months ended September 30, 2019.
In line with its digital journey towards a SMART Sri Lanka, SLT proudly launched ‘National Digital Roadmap (NDR)’ and ‘Limitless You’ programs in June 2019 to lead and drive “Digital Transformation” with the active participation of all relevant stakeholders including citizens across the country.
The accelerated Fiber initiative of SLT to develop 2 million FTTH ports by 2022 connects every household, government and business institution to enjoy ultra-high speed broadband access with lowest latency and avail an array of high definition audio and video entertainment and digital services.
With its global network footprint connecting all subcontinents through multiple international submarine cable systems and domestic transport and access network across the country, SLT offers a wide variety of National Backbone Solutions for domestic and global operators including fixed and mobile backhaul services, global & ISP connectivity services and enterprise intelligent business solutions.
0 comments: