SLT says poised for robust end of year 2021 results
View(s):SLT-MOBITEL has achieved a 49.2 percent year-on-year growth of Profit After Tax (PAT) in Q3 2021, posting Rs. 3.2 billion in PAT.
The commitment to cost consolidation across verticals combined with the group-wide undertaking to minimise waste, convert waste to cash and manage OPEX costs, resulted in savings over the year and is reflected in the year-on-year bottom-line and continued dividend payments, the company said in a media release.
SLT Group Revenue for Q3 2021 grew by 15.6 percent, compared to the same quarter of the previous year, to Rs. 26.7 billion. The EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) of the Group stood at Rs. 10.8 billion, reflecting a 25.7 percent year-on-year growth and the EBITDA margin improved to 40.4 percent compared to 37.1 percent in Q3 2020.
The topline (revenue) for the first nine months of 2021 was Rs. 76.6 billion, a 14 percent increase compared to the same period in 2020. This achievement was made possible due to a customer centric marketing strategy, with demand coming in for fibre connectivity for residential and corporate customers together with the demand for PEO TV and mobile services. The heightened demand resulted in a PAT of Rs. 9.2 billion, a 36.1 percent increase compared to the same period last year.
The release said for the first nine months of 2021, the capital expenditure investment of the group amounted to Rs. 18.2 billion. The upcoming 5G technology for which the ground is being prepared is set to provide Sri Lankans with an enhanced experience.
SLT Group’s contribution to the Government of Sri Lanka during the first nine months amounted to a total of Rs. 15.1 billion in direct and indirect taxes including levies, and dividends.
SLT Group Chairman, Rohan Fernando said: “SLT-MOBITEL is in the cusp of transformation from telephony to technology, backed by research and development, moving Sri Lanka to the digital platform. To reiterate our commitment to service and technology the construction of a technologically advanced Mobitel Headquarters commenced this year. On completion in 2022, all our mobile services will be brought under one roof in a new tech park in Welikada. We are dedicating an entire floor in the new headquarters for research and state-of-the-art innovations.”
SLT Group Chief Executive Officer, Lalith Seneviratne added: “As the country cautiously steps up to full efficiency with a vaccinated workforce, the SLT Group is playing its part to strengthen the digital links connecting the Government, the people and organisations.”