News

SLT Group stays resilient for Q3 overcoming external impacts

Published

3 years ago

2022/11/13

Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider,has reported positive overall revenues of Rs 79.6 Bn, a consolidated growth of 3.9% for the first nine months of 2022 compared to the same period last year, driven largely by prudent and proactive measuresundertaken in financial and operational management, said a press release.

It said: Demonstrating resilience in its business model, at Company level, SLT Q3 revenues grewto Rs 16.9Bn, an increase of 7.4% when compared to the same period last year, also reflected in optimistic year-to-dategrowth of10.6% atRs 49.4 Bn. SLT Group’s contribution to the Government of Sri Lanka during the first nine months of 2022 amounted to Rs. 21 Bn. in direct and indirect taxes including levies and dividends.

The Group’s Gross Profit growth for Q3 witnessed a marginal 0.8%increase at Rs 11.1 Bn, in comparison to the previous quarter. Weighing down growth, a negative3.4% in Gross Profit at Rs 33.4 Bn was recorded for the first nine months of the year, compared to the same period last year. Group Profit After Tax(PAT) growth declined to 27.1% (QoQ) while year-to-date also reflected a downward momentum at 34.1%.

At Company level, SLT posted a positive a 9.3% Gross Profit increase of Rs 7.2 Bn for Q3, QoQ and ended the nine months of the year also in a similar trend of 7.1% at Rs. 20.4 Bn.Furthermore, at Company level, Profit Before Tax for the first nine months recorded a significant increase of 136.1% when compared with the same period last year, owing to a forex gain of Rs.5.6 Bn. attributable to USD deposits, Dividend Income of Rs.2.3 Bn. and Rs.1.1 Bn. of Interest Income earned from USD deposits. PAT for the same period saw considerable growth of 82.8% at Rs 9.3 Bn mainly due to forex gains as a result of LKR devaluation, and dividend income received from subsidiaries. PAT growth for the Company in Q3 was a negative 76.6% compared to last quarter (QoQ).

SLT Group Chairman, Rohan Fernando said, “I am pleased to announce yet another quarter of positive, revenue growth for the Group. The resilience in our results is primarily due to management intervention in containing costs, the reduction in energy costs, consolidation of operations moving into company owned premises, and asset monetization subject to government policy being stable to attract FDIs. These results demonstrate how we continue to make tangible progress in delivering steady revenues despite 2022 being one of the most difficult periods in the history of Sri Lanka. The company is cautiously moving into the fourth quarter meeting all obstacles with a positive outlook.”

Company revenue growth was primarily driven by increases in Carrier Domestic, Broadband and Carrier International revenue streams. Carrier Domestic growth was predominantly from expansion in provision of Ethernet, international private leased circuit (IPLC) and internet leased line (ILL) services. Broadband saw revenue growth mainly from FTTH Broadband while Carrier International growth waschiefly due to USD appreciation. However, domestic interconnection revenue dropped as a result of a direction by the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) to reduce charges from April 2022 onwards.

Commenting on the future, the Chairman added, “The vision of the SLT Group of becoming a regional tech conglomerate will be pursued vigorously with the unified brand and consolidation of operations under one roof taking place gradually with the deployment of our state-of-the-art, high-tech, green building by the middle of 2023.”

The mobile services arm of the Group, Mobitel has experienced a revenuedecline in Q3’ 22 against the same period in the previous year, impacted by macro-economic challenges, tax changes and reduction of domestic interconnect charges. Nonetheless, Mobitel sustained growth in international business revenues while productivity and efficiency enhancinginitiatives in all areas also enabledthe subsidiary to remain profitable within the industry.

Meanwhile, SLT Group’s EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) growth witnessed a marginal reduction of 1.3% in the first nine months of 2022, compared to the same period last year. However, at Company level, EBITDA posted a stronger 5.0% year-on-year growth, mainly attributed to various initiatives including containing costs and asset monetization. Notably, due to inflation operating costs have risen impacting the overall Group EBITDAmargins.

The Group’s operating profit declined by 15.5%, the fall mainly led by devaluation of the LKR and high inflation costs in the first nine months of 2022. Operating expensesof the Group including SLT and Mobitel have increased due to forex devaluation, fuel costs and inflation that has prevailed in the country.Year-on-year electricity cost have decreased due to power outage whereas generator fuel cost has increased significantly due to power outage as well as fuel price increases.As a result of the sharp devaluation of the LKR against the USD during the previous quarter, Q2’22, SLT recorded a Rs.2.3 Bn forex gain. In contrast, the forex gain in Q3’22 was marginal at Rs.0.1 Bn due to the stability of forex movements during the period.

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Navy seize 161kg heroin shipment in high-seas operation

Published

2 mins ago

2026/04/17

Priyan

Being a key frontline stakeholder in the national mission, ‘A Nation United,’ the Navy continues to maintain a vigilant maritime shield to eradicate the drug menace from society.

During yet another successful operation on the high seas south of Sri Lanka, the Navy intercepted a local multi-day fishing trawler and apprehended four suspects in connection with the
smuggling of a stock of suspected narcotics.

The intercepted trawler, along with the suspects, was escorted to the Dikowita Fisheries Harbour today, (17 April 2026).

During a special inspection at the fisheries harbour, the Police Narcotic Bureau (PNB) confirmed the presence of over 161kg of heroin.

The Deputy Minister of Defence, Major General Aruna Jayasekera (Retd), and the Commander of the Navy, Vice Admiral Kanchana Banagoda, to inspect seized narcotics.

Addressing the media, the Deputy Minister emphasized that drug trafficking has long persisted as an organized and sophisticated criminal enterprise. He highlighted that under the current government’s national mission, ‘A Nation United,’ a robust state mechanism is now in motion, integrating the Tri-Forces, Police, Special Task Force, PNB, and international agencies to dismantle these networks.

Underscoring the Navy’s operational success, the Deputy Minister revealed that in 2025 alone, the Navy seized narcotics valued at over Rs. 75,000 million. In the first four months of 2026, the momentum has continued with nearly Rs. 50,000 million worth of drugs intercepted and produced for legal action.

During this short period, 14 local multi-day trawlers and 127 suspects have been apprehended. He issued a stern assurance that seized drugs would never find their way back into society, as they are systematically destroyed under strict protocols.
“Human capital is our nation’s most vital asset,” the Deputy Minister noted, adding that a healthy population leads to a quality workforce and a resilient economy. He further remarked that the vision of a “A Thriving Nation – A Beautiful Life”, extends beyond financial stability to include the dignity, discipline, and mindset of the citizenry.

“On the instructions of the President, new legislation is being drafted for Parliamentary approval to further empower this national mission and ensure a law-abiding, civilized society for future generations”, he stated.

Concluding the briefing, the Deputy Minister lauded the media for their role in drug prevention and urged continued responsible journalism to educate the public on the dangers of narcotics.

Meanwhile, the apprehended suspects, the multi-day trawler, and the 161kg heroin shipment were handed over to the Police Narcotic Bureau for onward investigation and legal proceedings.

News

Arshdeep and Prabhsimran star as Punjab Kings hammer Mumbai Indians

Published

12 hours ago

2026/04/17

Priyan

Quinton de Kock opened his IPL 2026 with a cracking century [Cricinfo]

Quinton de Kock’s hundred on his comeback to the Mumbai Indians XI was overshadowed by Prabhsimran Singh and Shreyas Iyer’s demolition of the chase of 196 with 21 balls to spare to keep Punjab Kings unbeaten five games into the season. Arshdeep Singh swung the new ball, reversed the old one, and bowled a quiet over in the middle to lead PBKS’ strangle job on MI, who suffered their fourth successive defeat.

An injury to Rohit Sharma opened the door for de Kock to play his first match of this season and become only the third batter to score a century for three different IPL teams. He scored 112 off 60 balls, Naman Dhir was promoted to No. 4 and scored 50 off 31, but the rest of the MI innings never got going.

Allah Ghazanfar briefly threatened to scupper a typically boisterous PBKS chase with two wickets in the powerplay, but Prabhsimran and Iyer never let MI back in. Like Dhir and de Kock before him, Prabhsimran enjoyed a reprieve on 11, and finished unbeaten 80 off 39 to take his sensational IPL 2026 tally to 211 runs in 122 balls. It was the first time he stayed unbeaten in a successful chase in the IPL.

Iyer scored an equally important 66 off 35, his third consecutive half-century, starting with a four first ball when MI had taken two quick wickets.

Arshdeep came into the match with two wickets and an economy rate of 10.6 in four games this season. Two left-hand openers were the ideal setting for him to improve his performance. The new ball swung in the air and moved off the surface, and Arshdeep kept taking it away from Ryan Rickelton. He beat the bat three times in the first over. In his second, he bowled a wobble-seam ball that ended up on the pads, but Rickelton found deep square leg to perfection.

Arshdeep backed Suryakumar Yadav to walk out expecting movement from left to right, but he angled the seam away, drew a thick edge and doubled his season’s wickets tally in two balls, and also went past 100 IPL wickets.

Even before those two wickets, de Kock signalled dangerous intent with a silken, aerial extra-cover drive first ball off fellow South African Marco Jansen. In Jansen’s next over, Yuzvendra Chahal lost the ball in the lights and missed a sitter from Naman Dhir. In the last over of the powerplay, de Kock gave up on making his ground but Iyer missed the stumps from mid-off.

That drop wasn’t the last error Chahal made. He started his spell by searching and frequently over-pitching and ended up conceding five sixes in his three overs for 45. Dhir hit two of those, the one over extra cover the highlight of his innings.

By the time de Kock got to fifty, MI looked set for a total in excess of 200. From 97 for 2 in 10 overs, de Kock went up a gear even as Dhir caught up with him. At 125 for 2 in 12 overs, PBKS were looking at a challenging target.

The comeback for PBKS began with Jansen conceding just seven in the 13th over, but like in the game against Sunrisers Hyderabad, the lack of pace from Shashank Singh once again produced a game-changing wicket. In his 31-ball 50, Dhir evoked a lot of Hardik Pandya with a compact bat swing and shots that looked quite like the MI captain’s. Pandya himself, though, hardly got anything out of the middle of the bat. He eventually fell for 14 off 12 to what could well end up as the catch of the tournament.

Iyer didn’t even get his name on the scoreboard for this effort at long on: he went full length as he leaped to rein the ball in, caught it in his left hand while airborne, transferred it to his right even as he came down over the boundary, and managed to throw it to Xavier Bartlett before he touched ground.

With the ball reversing, Jansen and Arshdeep bowled excellent yorkers, going for eight and nine in overs 18 and 19. Sherfane Rutherford got four tailing pinpoint yorkers during his five-ball stay for one run. Only 70 came in the last eight, prompting Dhir to say during the innings break that MI were 20 runs short.

The way Priyansh Arya and Prabhsimran tucked into some buffet bowling from Deepak Chahar, it looked like 195 was not 20 short but 40. However, led by Jasprit Bumrah who bowled four straight dots to Arya, Ghazanfar ended up with two wickets in the powerplay: Arya caught at midwicket and Cooper Connolly caught behind.

There was a time when MI had strung together 10 balls for one run and a wicket across the second and third overs of the chase. Prabhsimran cut the 11th for a regulation catch to backward point but Bumrah, wicketless in six straight IPL matches now, dropped it.

When Connolly fell, MI were still hopeful of a comeback. Iyer, though, brought a sense of calm, playing Ghazanfar’s mystery spin like you would offspin. He cover-drove the first ball he faced for four, and PBKS never looked back.

Prabhsimran faced just six balls in the first five overs, which means he did most of the damage with the field spread out. It started when Chahar came back to bowl the eighth over. Prabhsimran charged at him to hit a 90-metre six over wide long-off before tucking one off the hip for four.

Now Prabhsimran began to dominate the strike and the scoring, bringing up his fifty with successive fours off Shardul Thakur in just 23 balls.

Bumrah might be wicketless but his bowling has been good through the season. However, when Iyer pulled him for a disdainful six in the 13th over, it was all over for MI. If there were any doubts remaining with 50 needed off the last seven overs, Prabhsimran dispelled them with a four and a six off Pandya. The end was swift and brutal with even Bumrah finishing with 0 for 41 in his four overs.

Brief scores:
Punjab Kings 198 for 3 in 16.3 overs (Priyansh Arya 15, Prabhsimran 80*, Cooper Connolly 17, Shreyas Iyer 66, Marcus Stoinis 10*; AM Ghazanfar 2-31, Shardul Thakur 1-42 ) beat Mumbai Indians 195 for 6 in 20 overs (Quinton De Kock 112*, Naman Dhir 50, Hardik Pandya 14; Arshdeep Singh 3-22, Marco Jansen 1-30, Shahshank Singh 1-19) by seven wickets

[Cricinfo]

Latest News

Heat Index at Caution Level in the Northern, North-central, North-western, Western, Sabaragamuwa, Eastern and Southern provinces and in Monaragala district

Published

14 hours ago

2026/04/17

Priyan

Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 16 April 2026, valid for 17 April 2026.

The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, North-western, Western, Sabaragamuwa, Eastern
and Southern provinces and in Monaragala district.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.