SLT Group records Rs. 12.2 b 2021 post-tax profit
View(s):Sri Lanka Telecom PLC (SLT) Group, the National ICT Solutions Provider, has concluded the financial year 2021 on a high note, recording a turnover of Rs. 102.3 billion for the year ended December 31, 2021 marking a topline growth of 12.3 per cent year-on-year.
The Group’s sustained growth resulted in a Profit After Tax (PAT) of Rs. 12.2 billion, a growth of 54.3 per cent as compared to the previous year, the company said in a media release. Group profits were propelled forward by robust performances by multiple business segments. The EBITDA of the group grew at 16.6 per cent during the period in the backdrop of Operating Profit growth of 19 per cent.
SLT’s sustained investment on expanding fibre connectivity (FTTH) and significant expansions and upgrades in the 4G/LTE network resulted in the surge in broadband revenue during the year. Further, SLT experienced a revenue growth in PEO TV in a market receptive to quality education and entertainment options online, expanding to hitherto untapped markets during the year under review. Xyntac, the global unit of SLT-MOBITEL adds strength to the overall business, with the investment in the new SEA-ME-WE 6 cable, set to elevate Sri Lanka’s global connectivity capacity to the next level. The state-of-the-art data centre that bolsters the digital capabilities of SLT-MOBITEL, and the Akaza multi-cloud platform too continued to add value to the company, it said.
SLT Group Chairman, Rohan Fernando said, “Looking back on 2021, I can proudly say that we have achieved way beyond what we expected and closed the year with an all-time best record. Going forward our new direction will be in meeting competition and enticing customers towards the SLT group.”
Group revenue for Q4 2021 grew by 7.5 per cent compared to the same quarter of the previous year to Rs. 25.7 billion, with the EBITDA and Operating Profit growing by 21.3 per cent and 34.8 per cent respectively. The Group PAT for the quarter climbed to Rs. 3 billion, a 162.9 per cent year-on-year growth.
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