Sri Lanka Telecom PLC released the financial statements of the Company and Group for the 9 months ending 30th September 2017. The group comprises of nine subsidiaries including mobile arm Mobitel (Pvt) Ltd as well as E-Channeling (Pvt) Ltd which is a subsidiary of Mobitel (Pvt) Ltd.
During the nine month period ending 30th September 2017, the Group reported a revenue of Rs. 56.4bn with year on year growth of 1.3%. The marginal increase of mobile related revenues mainly due to tax increases has resulted in the lower than expected revenue growth of the Company.
During the period under review the Group Operating Costs amounted to Rs. 40.26 bn with a 1.5% Year on Year increase. The measures taken to control the costs and reductions in revenue related direct costs, at Group level have enabled the Group to minimize the operational costs. Group EBITDA remained almost flat, owing to the low increase of revenue. The Group Operating Profits dipped to Rs. 3.4 bn as a result of the heavy increase in depreciation. Substantial investments by the holding company have resulted in the increase in depreciation. Profit before Tax and Profit after Tax of the group dipped to Rs. 4.1 bn and Rs. 3.2 bn respectively..
Source: http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=175298