SLT Group continues growth momentum in 9-mth period, profits rise to Rs. 5 bln
View(s):Sri Lanka Telecom PLC (SLT) group last week reported that turnover grew by 8 per cent to Rs. 48 billion in the nine months ending September 2014, with operating expenses rising by 9 per cent to Rs 21.6 billion.
In a media statement, is said the Rs. 673 million, one time charge for an out of court settlement on civil litigation in relation to the import of the IPTV system in 2007/2008 led to this increase in costs.
The group’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose by 7 per cent year on year to Rs. 14.9 billion despite pressure on profitability and the EBITDA margin has been maintained at the range of 31 per cent.
Group pre-tax profit was Rs. 6.6 billion while post tax profit was Rs. 5.0 billion.
The holding company said revenue growth was driven by non-traditional revenue streams such as Internet, wholesale, global, international and IPTV. The company introduced a new state – of- the- art IPTV system with high capacity and this novel feature will address the increasingdemand for this service. Mobitel Pvt Ltd, the mobile arm of the SLT Group continued its consistent growth feat despite intensifying competitive environment in the industry. Revenue for the first nine months of 2014 increased to Rs. 22.7 billion, up by 11 per cent compared to corresponding period in 2013. “This growth was mainly driven by the increase in Mobitel subscribers both in voice as well as in data reporting a 7 per cent increase in the overall subscriber base,” it said.