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15 May, 2015 07:54 AM Source: Financial Times - Sri Lanka

Sri Lanka Telecom (SLT) yesterday said during the first quarter of 2015 the Group has been able to report impressive financial performance resulting from good growth in revenue generations coupled with cost management initiatives.
Strategic initiatives takegn across the group such as capacity expansions, new product offerings, and reaching new market segments the revenue of all major segments of the group have grown, with an overall group revenue growth of 9% year-on-year to Rs. 16.7 b during the first quarter of 2015. Mobitel’s outstanding performance was significant to the growth.

Group EBITDA  (Earnings Before Interest, Tax, Depreciation and Amortisation) was up by 34% to Rs. 5.6 b while EBITDA margin has improved to 33.3% compared to 27.2% of same quarter of the year before. In contrast to increase of revenue, remaining of operating cost at the same level of previous year, at Rs. 11.1 b, was reflected in EBITDA improvements.
Group net profit increased to Rs. 1.68 b with a remarkable year on year growth of 207%. The increase was mainly driven by improvements in EBITDA, surpassing a negative impact of finance related cost increased by about Rs. 391 m in absolute terms.
Despite the constant challenges on fixed line voice service, the holding company SLT has been able to record Rs. 9.87Bn revenue with a 5% growth during the first quarter of 2015, compared to same period of the year before. The growth was driven by local non-voice revenue streams such as data and broadband, enterprise, SME, wholesales sectors and IPTV. Introduction of a high capacity IPTV system, expansions in broadband and data services, investments in infrastructure developments, etc. have largely contributed to the revenue growth.

Operating cost of the company remained 6% below from the same quarter of the previous year resulting from effective cost controls apart from the impact to the operating cost of the previous year by one time charge resulting from an out-of-court settlement of a civil litigation.

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