Dialog revenue increases 2% q-o-q, 6% in YTD

Sri Lanka’s largest mobile provider by subscribers Dialog Axiata recorded consolidated revenue of LKR17 billion (USD129.7 million) in 3Q14, up 2% from the previous quarter, while the nine months ending 30 September saw revenue of LKR50 billion, representing a 6% increase in the year-to-date (YTD). EBITDA rose 4% quarter-on-quarter (q-o-q) to LKR5.5 billion and 1% in the YTD to LKR15.4 billion. Dialog Axiata PLC (the ‘company’ as opposed to the ‘group’ – featuring the mobile, international and tele-infrastructure sectors) contributed 85% of the total revenue (LKR14.7 billion), with growth of 2% compared to the previous quarter, while its YTD revenue was recorded at LKR43.3 billion, up 5% y-o-y thanks to a continued increase in mobile subscriptions. The operator’s pay-TV unit, Dialog Television, recorded growth in revenue of 29% to LKR3.4 billion in the YTD with subscriptions rising by 36% y-o-y to reach 410,000 at end-3Q14. Dialog Broadband Networks (DBN) suffered net loss of LKR924 million for the YTD – attributed to an increase in depreciation due to fixed 4G Long Term Evolution (LTE) investments – in comparison to net loss of LKR280 million in the corresponding period for 2013. CAPEX for the quarter was LKR4 billion, largely from investments into high speed broadband infrastructure.