Business Times

SLT records Group PAT of Rs. 1.29 billion in 1Q11

Sri Lanka Telecom (SLT) has announced that it has posted a group profit after tax (PAT) of Rs. 1.29 billion, up 114% year-on-year, in its first quarter 2011 financials. Additionally, group revenue was indicated as being Rs. 12.4 billion, a result of "strong performance in Broadband, Data, TV and Mobile Voice, with new connections recording a continuous growth" while improved profitability was said to be caused by a "revenue increase coupled with cost optimisation initiatives which have delivered encouraging results in terms of reducing operating expenses."

Also noted by SLT; "the group’s key performance indicators, such as EBITDA, PBT and PAT margins have sustained positive growth" and "a positive free cash [flow] of Rs. 1.03 billion." It said, "value additions such as ADSL and PEO TV have increased PSTN (wired lines) customer base, enabling the company to pass the milestone of 900,000 customer base in 1st quarter 2011. Creating further interest about the company’s value-addition initiatives was the fact that existing SLT broadband customers using Entre, Home Plus, Office Plus and Excel Plus volume-based packages benefitted from the free speed boost and increase of data volumes to their Internet experience."

Meanwhile, SLT's mobile arm, Mobitel, recorded a PAT of Rs. 384 million, up 88% year-on-year, while overall revenue increased by over Rs. 600 million, this despite "the substantial net outflow for 1st Quarter 2011 due to the interconnection regime imposed from June 2010." Also indicated, Mobitel was able to "increase its [mobile customer base] by almost 500,000 within 12 months, ending 31st March 2011."

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