Sri Lanka Telecom (SLT) has released its financial results for the first six months of 2014, comprising the fixed line operator and seven subsidiaries including mobile arm Mobitel. The group recorded LKR31.39 billion (USD241 million) revenue during the six months, representing 8% growth compared to the same period of 2013. All the operational segments of the group contributed to the growth, including fixed telephony, broadband mobile telephony/internet and others. Despite operational costs rising year-on-year by 7%, group EBITDA increased 9% to LKR9.53 billion in January-June 2014, giving an EBITDA margin of 30%. Group profit before tax grew by 25% to LKR4.04 billion, helped by foreign exchange gain of LKR99 million (compared to LKR382 million foreign exchange loss in H1 2013) coupled with EBITDA growth. The group reported LKR2.96 billion net profit in 1H14, an improvement of 28% year-on-year.
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