Dialog profits improve in 1H 2023
View(s):Dialog Axiata PLC announcing its consolidated financial results for the six months to end June 2023 resulted in the group concluding 1H 2023 with positive revenue performance being recorded across all business segments, namely, Mobile, Fixed Line, Digital Pay Television, International and Tele-infrastructure.
Consolidated revenue was recorded at Rs. 97.7billion, demonstrating a growth of 20 per cent Year-to-Date (YTD). However, revenue declined 5 per cent Quarter-on-Quarter (QoQ) to reach Rs. 47.7 billion for Q2 2023 due to drop in non-core revenue1 resulting from LKR appreciation against the USD, the company said in a statement.
Despite the elevated cost base due to unfavourable externalities, Group Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was flat and marginally declined by 1 per cent YTD to record at Rs.27.2 billion. The EBITDA for Q2 2023 was recorded at Rs.14.2 billion up 9 per cent QoQ as cost rescaling initiatives gained more traction to record a saving of Rs.5 billion for the quarter (Rs.7.5 billion for 1H 2023). Overall, the core business remained resilient to record a core EBITDA margin of 40.2 per cent for 1H 2023.
The group Net Profit After Tax (NPAT) continued to benefit from forex gains to record at Rs.11.8 billion for 1H 2023, with a growth exceeding 100 per cent YTD, whilst on a QoQ basis NPAT recorded a decline of 64 per cent to reach Rs.3.1billion for Q2 2023.
Normalised for the forex gain a Net Loss was recorded at Rs.0.5 billion for 1H 2023 and Rs.0.3 billion for Q2 2023.
The Dialog Group continued to be a significant contributor to state revenues, remitting a total of Rs.21.9 billion to the Government during the first six months of 2023, an increase of 29 per cent YTD. Total remittances included Direct Taxes and Levies amounting to Rs.6.4 billion and Rs.15.5 billion in Consumption Taxes collected on behalf of the Government.
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!