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SLT Group records over Rs 100 billion turnover; profit up 54%

Sri Lanka Telecom PLC (SLT) Group has concluded the financial year 2021 on a high note, recording a turnover of Rs. 102.3 billion for the year ended 31 December 2021 marking a top line growth of 12.3% year-on-year.

The Group’s sustained growth resulted in a Profit after Tax (PAT) of Rs. 12.2 billion, a growth of 54.3% as compared to the previous year.

Group profits were propelled forward by robust performances by multiple business segments.

The EBITDA of the Group grew at 16.6% during the period on the backdrop of Operating Profit growth of 19.0%.SLT’s sustained investment on expanding fibre connectivity (FTTH) and significant expansions and upgrades in the 4G/LTE network resulted in the surge in Broadband revenue during the year. 

Further, SLT experienced a revenue growth in PEO TV in a market receptive to quality education and entertainment options online, expanding to hitherto untapped markets during the year under review.

Xyntac, the Global unit of SLT-Mobitel adds strength to the overall business, with the investment in the new SEA-ME-WE 6 cable, set to elevate Sri Lanka’s global connectivity capacity to the next level.

The state-of-the-art data centre that bolsters the digital capabilities of SLT-Mobitel, and the Akaza multi-cloud platform too continue to add value to the company.

SLT Group Chairman Rohan Fernando said: “Looking back on 2021, I can proudly say that we have achieved way beyond what we expected and closed the year with an all-time best record in every aspect may it be financial, corporate governance or above all else national responsibility.

Group revenue for Q4 2021 grew by 7.5% compared to the same quarter of the previous year to Rs. 25.7 billion, with the EBITDA and Operating Profit growing by 21.3% and 34.8% respectively.The Group Profit After Tax (PAT) for the quarter climbed to Rs. 3.0 billion, a 162.9% year-on-year growth.

“The divesting of our non-core businesses has brought in good results and will now allow us single-minded focus on our core businesses, allowing us to propel SLT Group’s to the pinnacle of digital leadership.The Group is passionate to cement our leadership in the industry and meet the competition head on, and with a commitment to inclusive management, we will work as one team to achieve our business goals as SLT-Mobitel,” SLT Group CEO Lalith Seneviratne said.

The holding company of the Group, Sri Lanka Telecom PLC (SLT) recorded an impressive 16.0% increase in revenue over the last year reaching Rs. 59.8 billion. The PAT of the company went up to Rs. 5.9 billion, reflecting a 45.9% year-on-year growth. The company saw a heightened growth in revenues from Broadband, PEOTV and Carrier Domestic services during the year compared to the year before.

Mobitel Ltd., the mobile arm of the Group recorded its highest profits in its 28-year history with a PAT of Rs. 8 billion. marking a growth of 63.8% in PAT year-on-year. The growth was mainly driven by the Broadband segment. 

Despite the adverse macroeconomic conditions and other challenges, Mobitel recorded a revenue of Rs. 47.1 billion, a noteworthy 8.7% year-on-year growth compared to the previous year.

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