SLT posts Rs. 6.17 billion Group Operating Profit
View(s):Sri Lanka Telecom PLC. (SLT) made Rs. 6.17 billion Group Operating Profit, a growth of 19 per cent Year on Year (YoY) for 2012, according to results released by the stock exchange.
On a normalized basis (without exchange loss on translation), the group has reported a Group Profit before Tax (PBT) of Rs. 7.2 billion, an increase of 12 per cent and Profit after Tax (PAT) of Rs. 5.25 billion, an increase of 10 per cent YoY, according to the results.
After the loss on exchange translation, Group PBT and PAT declined by 3.2 per cent and 10 per cent to Rs 5.97 billion and Rs. 4.04 billion respectively. Year 2012 which saw an increase in fuel prices, hikes in energy costs and the rise in other input costs exerted excessive pressure on the profitability of the group, SLT has said. The Group Revenue increased by 10 per cent YoY to Rs 56.77 billion.
Nimal Welgama
Chairman of SLT Group Nimal Welgama said, “During the last three years the SLT Group has spent Rs. 42 billion in capital expenditure displaying our passion and commitment to the rapid growth of ICT in the country and further strengthening the position of the SLT Group as a key contributor to the ambitious development plans of the government.Operating results of 2012 and investments made in network modernization, capacity and coverage expansion demonstrates our quest and vigor to add value to our stakeholders.
At company level, revenue increased to Rs. 34.72 billion, recording a growth of 8 per cent which is the highest revenue growth recorded since 2006 which was driven by an impressive growth of the broadband, enterprise data, wholesale, international services and PEO TV businesses. The company posted a PBT of Rs. 4.68 billion and a PAT of Rs.3.36 billion.
Sri Lanka Telecom Mobitel (Mobitel), the mobile arm of the group recorded an impressive revenue growth of 13 per cent in 2012 despite intensified competition in the mobile telephony sector. In absolute terms, Mobitel recorded revenue of Rs. 24.93 bn in 2012 compared to Rs.22.08 billion in 2011, an increase of Rs.2.85 billion. This growth was realized mainly due to the increase in Mobitel’s subscriber base by 14 per cent.
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