COLOMBO: Sri Lanka Telecom (SLT) Group saw its EBITDA grow 5.4 percent year-on-year to LKR 21.2 billion in 2017. The group comprises 8 subsidiaries including Mobitel. This improvement is a result of revenue growth and minimum escalation of operational costs, the company said. In 2017, the group reported revenue of LKR 75.7 billion, which represents an increase of 2.6 percent year-on-year.
The Group’s operating profit reached LKR 3.9 billion, down 31.6 percent compared to 2016. The decline was mainly due to the significant increase in depreciation and amortization, the company said. The group profit after tax for 2017 amounted to LKR 3.9 billion. Escalation of depreciation and amortization has brought down the profit of the year by 17.7 percent year-on-year.
Sri Lanka Telecom alone reported EBITDA of LKR 11.4 billion for 2017, which represents an increase of 14.9 percent year-on-year. SLT’s revenue amounted to LKR 44.5 billion in 2017, up 3.3 percent year-on-year, while operating costs reached LKR 33.1 billion, which was slightly lower than in 2016, the lompany also said. SLT’s profit after tax amounted to LKR 1.4 billion in 2017.
