SLT posts 8% rise in H1 revenue

13 Aug 2019

State-owned Sri Lanka Telecom (SLT) has reported group revenue of LKR42.6 billion (USD239.7 million) for the first six months of 2019, an increase of 7.9% from LKR39.5 billion in the year-ago period. Turnover was boosted by ‘significant contributions from the firm’s key business portfolios’, including fixed and mobile broadband services, global business, enterprise business solutions, TV and services, and national backbone services. Revenue generated by wireless unit Mobitel increased 5.4% from LKR18.8 billion in the first half of 2018 to LKR19.9 billion twelve months later.

SLT said that gross profit increased by 13% to LKR18.8 billion, while operating profit was up 42% year-on-year to total LKR4.5 billion, attributed to better management of costs and higher revenue, and profit after tax rose 23% from LKR2.8 billion in H1 2018 to LKR3.5 billion a year later.

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