SRI LANKA TELECOM
GROUP OPERATING PROFITS UP, DEPRECIATION SLOWS NET PROFITS
Sri Lanka Telecom (SLT) released its group and holding company financial performance results for the six months ending 30 June. The group comprises eight subsidiaries, including the mobile arm Mobitel. During the six months ending 30 June, the group reported Rs. 37.4 billion in revenue with two percent year-on-year growth while maintaining nominal growth of one percent in operating costs. Group Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was reported at Rs. 11 billion with a four percent increase compared to the corresponding period of the prior year. This increase was mainly driven by investments of the holding company in new technologies and customer base expansion initiatives.