Sri Lanka Telecom PLC (SLT) released its Company and group financial performance for the 4th Quarter 2014, and the cumulative for the year 2014.
The group comprises the Holding Company Sri Lanka Telecom PLC and seven other subsidiaries including the mobile arm Mobitel (Pvt) Ltd. (Mobitel).
The SLT group continued to maintain its overall growth momentum during the year 2014. Group revenue for the year was up by 8% to Rs. 65 bn.
All the segments of the group comprising Fixed, Mobile and Others positively contributed to this increase.
Owing largely to price escalations coupled with the impact of an out of court settlement on civil litigation in relation to the import of the IPTV system in 2007/2008, operating cost of the group increased by 12% to Rs. 46.3 bn during the year 2014, compared to the year before.
The group Profit Before Tax of the year 2014 increased by 12% year on year to Rs.8.2 bn. Refund received from the Telecommunication Development Charge (TDC) of Rs. 1.2 bn during the year against Rs. 0.6 bn of the previous year that has also contributed to this bottom line growth. Group Profit After Tax of the year 2014 was Rs. 6 bn. up by 11% year on year.
During the year the group invested Rs. 20.2 bn in its infrastructure.
The holding company, Sri Lanka Telecom PLC reported Rs. 38.9 bn revenue during the year 2014 with 6% year on year growth. Despite the threats on voice related revenue Whole sale, Enterprise, Data and IPTV related revenues have demonstrated positive upward trends.