COLOMBO: Dialog Axiata PLC Thursday announced its consolidated financial results for the nine months ended 30th September 2016.
Financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”) post-consolidation with subsidiaries Dialog Broadband Networks (Pvt) Ltd (“DBN”), Dialog Television (Pvt) Ltd (“DTV”) and Digital Holdings Lanka (Pvt) Ltd (“DHL”).
Dialog Axiata PLC posted a net profit after tax of Rs. 7.8 billion for the nine months ended 30 September 30, 2016.
The Group continued its strong growth momentum across Mobile, Digital Pay Television, Tele-infrastructure and Fixed Line businesses to record a consolidated Revenue of Rs. 21.7 Billion for Q3 2016 and Rs. 64.0 billion for the nine months ended September 30, 2016, demonstrating a robust growth of 3% Quarter on Quarter (QoQ) and 19% Year to Date (“YTD”) respectively.
On the backdrop of strong Revenue growth, Group EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) grew by 9% QoQ to be recorded at Rs 7.7 billion for Q3 2016.
Group EBITDA for the first nine months of 2016 was recorded at Rs 21.8 billion, a significant increase of 20% relative to the corresponding period in 2015 translating to an EBITDA margin of 34.1%.
Group NPAT (Net Profit After Tax) grew 24% QoQ to be recorded at Rs. 2.8 billion. NPAT for the first nine months of 2016 demonstrated a significant YTD growth of 71% to be recorded at Rs. 7.8 billion.
The Sri Lankan Rupee depreciated at a moderate 1.7% YTD resulting in a non-cash translational foreign exchange loss of Rs 0.2 billion compared to Rs 1.7 billion during the corresponding period in 2015.
The Dialog Group continued to be a significant contributor to state revenues, remitting a total of Rs 23.7 billion to the Government of Sri Lanka (GoSL) during the nine months ended September 30, 2016.
Total remittances included direct taxes and levies as well as consumption taxes collected on behalf of the GoSL. Direct taxes, fees and levies contributed by the Dialog Group totaled to Rs 8.6 Billion inclusive of income tax.
The Group additionally collected consumption taxes and levies, totaling to Rs 15.1 Billion on behalf of the GoSL for the first nine month of 2016, comprising in the main of Telecom Levy collections amounting to Rs 10.0 billion. At an entity level, Dialog Axiata PLC (the Company) featuring the Mobile, International and Tele-Infrastructure segments of the Group portfolio continued to contribute a major share of Group Revenue (84%) and Group EBITDA (87%).
Company Revenue for the nine months ended September 30,2016 was recorded at Rs. 53.9 billion, up 17% compared to the corresponding period in 2015.
Revenue for the third Quarter grew by 4% QoQ to be recorded at Rs. 18.3 billion. Company EBITDA for the quarter increased by 13% QoQ to reach Rs. 6.7 Billion on the backdrop of Revenue growth.
