SLT net profits up 14% in 9M16

15 Nov 2016

Sri Lanka Telecom (SLT) has reported revenues of LKR55.7 billion (USD384.53 million) for the first nine months of this year, up 9.5% year-on-year, attributable in the main to rising demand for its data and broadband-related products thanks to the carrier’s ongoing 4G LTE expansion programme and efforts to ramp up its fibre-optic, ultra-high speed network coverage. SLT said, however, that its operating costs rose by 15.2% y-o-y to LKR39.7 billion, as a result of an increased contribution to the International Telecommunication Operators Levy and the restoration of telecoms infrastructure affected by natural disasters during the second quarter of 2016. Group CEO Dileepa Wijesundera said that the operator’s sustained and solid top-line growth marked the success of SLT’s drive to invest in its networks and services – in particular to provide an enhanced customer experience via high quality Information Communication and Entertainment (ICE) services.

SLT Group comprises of the holding company and eight subsidiaries including mobile arm Mobitel. Recent press rumours have suggested that the SLT mobile unit may be listed in 2017, with unnamed sources claiming Mobitel has already made a request to allow that to happen.

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