SLT’s revenues climb 5.9%

25 Feb 2014

During the full-year 2013, the Sri Lanka Telecom (SLT) group reported LKR60.1 billion (USD456 million) consolidated net revenue, up by 5.9% compared to the previous year, driven by revenue increases at both SLT’s fixed network division and cellular subsidiary Mobitel. The group reported operational costs of LKR41.2 billion, with a ‘sustainable increase’ of 6.2% year-on-year, and recorded a 5.3% rise in EBITDA to LKR18.9 billion, attributed to ‘healthy revenue growth coupled with operating cost management’. EBITDA margin remained steady at 31.5%, while the rising EBITDA plus non-operational transactions drove a 38.2% y-o-y increase in group net profit to LKR5.4 billion. Net profit in 4Q 2013 dropped by 3.1% quarter-on-quarter to LKR1.5 billion due to the impact of taxation.

Mobitel recorded gross turnover of LKR27.5 billion in 2013, up by LKR2.6 billion from the previous year, while for the fourth quarter the cellco’s revenue increased 9% y-o-y to above LKR7 billion. Mobitel added that its subscriber base crossed the five million mark.

SLT reported fixed division gross revenue of LKR36.8 billion for FY 2013, with 5.9% growth driven by broadband and IPTV uptake, while reporting 5.8% q-o-q turnover growth to LKR9.9 billion in 4Q13.

Sri Lanka, SLT-Mobitel, Sri Lanka Telecom (SLT-Mobitel)