Sri Lanka Telecom PLC released its Group financial performance for the six months ending 30th June 2018, today. The Group, inclusive of the Holding Company comprises of 8 subsidiaries including the mobile arm Mobitel (Pvt) Ltd.
SLT Group continued its growth momentum across all key business areas including Fixed, Mobile, Broadband, Enterprise solutions, Wholesale and PayTV to record a consolidated revenue of Rs. 39.4 Bn for the first half of 2018, a growth of 5.5 % Year-on-Year. The Group reported a Rs. 2.8 bn net profit during the 1st half of 2018 a 13.5% growth compared to the same period in the previous year.
The operating cost for the period is Rs. 27.2 bn with a lower year on year increase of 3.3%.
Disciplined cost management and operational efficiencies together with revenue growth show the group EBITDA reaching Rs. 12.2 bn.
During the period under review the group invested Rs. 10.8 bn for the acquisition of property, plant and equipment.
In line with increasing investments the group depreciation increased by 10.2% to Rs. 9.1 bn. The group reported an Operating profit of Rs.3.1bn during the 1st half of 2018 and Profit before tax of Rs. 3.6 bn with a 12.9% and 16.2% year on year increase respectively.
The Holding Company - Sri Lanka Telecom PLC- reported a Rs. 1.0 bn net profit during the 1st half of 2018, showing an impressive 62.1% year on year growth.
The improvements to the profits were largely driven by year on year revenue growth of 5.3% and managing of operating cost escalations at a lower level of 1.9% year on year.
During the period under review the company reported Rs. 23.3 bn in revenue and Rs. 16.6 bn in operating cost.
The Holding Company EBITDA margin improved to 28. 7% from 26.3% the previous year as a result of revenue increase and controlling of costs. Depreciation increased by 12.8% to Rs. 5.9 bn which tallies with the Rs. 6.8 bn investment in acquisition of property, plant and equipment and intangible assets. Profit before tax was reported at Rs. 1.3 bn with year on year growth of 63.2%.
PEO TV recorded an impressive revenue growth of 18% during the first six months of 2018.