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SLT Group achieves stable revenues for Q1, remaining resilient despite challenges

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SLT Group Chairman Rohan Fernando

Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider, recorded positive consolidated revenues of Rs. 26.6 Bn for Q1 2023, an increase of 2.1%, compared to the same period last year, led by robust growth at company level from SLT, demonstrating resilience and optimism in the future undeterred by the challenging environment.

The SLT Group’s revenue growth was mainly driven by SLT company revenues of Rs. 17.6 Bn recorded for the quarter, an increase of 10.7%, from last year’s corresponding period. Notably, the SLT Group Management’s strategic vision for the company, and prudent action to mitigate the impact of macro-economic issues have resulted in this achievement. However, Group revenues were weighed down by the mobile services arm of the Group.

SLT Group Chairman, Rohan Fernando stated, “We are proud of the stride we have made towards stabilizing our business, unifying our operations and platforms, and transforming into a future-ready technology company. However, the true testament to our success lies in our lean and target-based operational structure, which has enabled us to weather the most trying circumstances and emerge with optimism for the future.”

Overall, SLT Group profitability was impacted by direct operational costs. At Group level, Direct Costs swelled to Rs. 15.9 Bn, an increase of 7.6% year-on-year, while at Company level it was at Rs. 9.8 Bn, a rise of 6.8%. The escalation in costs were related to international payments, electricity tariff hikes and annual maintenance charges to foreign vendors. Additionally, administrative costs have also risen significantly to Rs 5.8 Bn at Group level and Rs. 4.5 Bn at SLT Company level for the quarter, an 8.7% and 7.4% increase respectively, once again mainly attributed to inflation and the devaluation of LKR against USD. On a positive note, depreciation and amortization has been reduced, at SLT Group level by 13.6% and at Company level by 19%, reflecting the true value of assets.

Group operating profit has been impacted by the hike in operating expenses which includes an increase in utility cost attributed to the tariff increase, international payments, and annual maintenance costs because of the depreciation of the local currency against the USD and inflation that prevailed in the country. However, at Company level, SLT recorded a healthy YoY increase of 74.4% in operating profit. Overall, at Group level, Profit Before Tax has reduced by 54% YoY mainly driven by finance costs due to the massive increase in interest rates.

Noteworthily, eliminating forex losses shows an improvement in earnings at Company level for the quarter under review. Profit before Tax after eliminating forex loss at Company level is Rs. 1.1 Bn. Additionally, normalized Profit after Tax by eliminating forex impact is Rs. 0.9 Bn at Company level.

The Group’s mix of foreign currencies supported Mobitel’s and VisionCom’s gain from the Rupee appreciation during Q1 compared to last year’s corresponding period due to bearing USD loans and liabilities. However, SLT incurred a loss because of its USD reserves.

Despite the ongoing macroeconomic challenges, the SLT Group remains committed to delivering value to all stakeholders. Investments in the SEA-ME-WE 6 cable and facilitation of the fiber network to ensure high-speed connectivity are also ongoing to enable seamless access to transition into an era of digital services.

The Group understands its responsibility to meet present and future technological and communication needs of the country. Working towards this goal, it remains focused on its stability and performance, infusing innovations into its core business and undertaking prudent cost saving measures. Navigating challenging and volatile market conditions, the Group has emerged stronger, securing business sustainability equipped with a future-ready workforce. (SLT)



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Dialog & IESL open National Startup Challenge to empower Sri Lanka’s entrepreneurs

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Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, joins the Institution of Engineers, Sri Lanka (IESL) to launch the IESL National Startup Challenge, creating a national pathway for aspiring entrepreneurs to transform innovative ideas into commercially viable, investment-ready startups. The initiative reflects a shared commitment to strengthening Sri Lanka’s entrepreneurship ecosystem through structured development, expert mentorship and practical support that enables promising ideas to progress towards market readiness and scale.

Launched through the IESL Entrepreneurship Forum at the Dialog Auditorium on 5 October 2026, the competition invites Engineering Undergraduates, Engineering Practitioners and participants in an Open Category for Non-Engineers to submit ideas across 12 innovation verticals aligned with national priorities, emerging technology and market trends, and inclusive innovation. Participants will progress through idea development, pitching, incubation, prototyping, validation, minimum viable product development and business scaling, supported by industry experts, mentors and ecosystem partners. The programme will culminate in a Top 10 selection, with the first-place winner receiving an award of LKR 1 million.

As title sponsor and a key ecosystem enabler, Dialog is contributing practical expertise and resources beyond sponsorship, providing technical expertise, mentors and digital resources to help participating teams develop, validate and scale their solutions. Each of the Top 10 teams will also receive a Dialog Digital Startup Support Package valued at LKR 250,000, comprising selected Dialog digital products and services.

“Dialog is committed to enabling Sri Lanka’s next generation of innovators by connecting entrepreneurial ambition with the technology, expertise and practical resources needed to turn ideas into scalable ventures. Through the IESL National Startup Challenge, Dialog is extending its digital capabilities, mentorship and ecosystem support to help promising teams progress from concept to validation and investment readiness,” said a representative of Dialog Axiata PLC.

Eng. Jasmine Nanayakkara, Chairperson of the Entrepreneurship Forum at the Institution of Engineers, Sri Lanka, added, “The IESL National Startup Challenge is designed to turn innovative ideas into viable businesses by connecting aspiring entrepreneurs with industry expertise, mentorship and continuous practical support. More importantly, it is about creating an ‘Engineer to Entrepreneur’ transformation and nurturing a stronger entrepreneurial culture within the IESL community. By encouraging our engineers and aspiring founders to create, commercialise and scale solutions, we aim to contribute to new ventures, new opportunities and meaningful job creation for Sri Lanka’s skilled and educated next generation. We are grateful to Dialog for partnering with IESL to create this pathway for innovation, entrepreneurship and national economic growth.”

Driving innovation across Sri Lanka, the National Startup Challenge also brings together a strong network of partners, including The Ceylon Chamber of Commerce as Ecosystem and Mentoring Partner, Helago as Official Mobility Partner, Helakuru as Official Digital News Partner, and Real Life as Official Climate Action Partner.

The IESL National Startup Challenge represents a collaborative effort to strengthen Sri Lanka’s innovation and entrepreneurship ecosystem by creating a structured pathway from promising ideas to market-ready businesses. Applications are now open via www.iesl.lk/announcements, giving aspiring entrepreneurs an opportunity to access the resources and funding they need to succeed. Applications close on 16th November 2026. For more information, contact mgr.pub@iesl.lk / 071 109 4393.

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Why Convenience Is Reshaping Household Cleaning Habits

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Keeping a home clean involves more than dealing with one kind of mess. Kitchens face grease and cooking splashes, bathrooms develop soap scum and limescale, while frequently used areas around the home collect marks, fingerprints and everyday dirt.

For households looking to simplify this routine, multi-surface cleaners offer a practical solution by allowing one product to tackle multiple cleaning needs across suitable surfaces.

One home, many everyday messes

In the kitchen, grease, splashes and burnt-on food can build up around hobs and hotplates. Cupboard doors and appliance exteriors can also collect smudges and marks through daily use.

Bathrooms present different challenges, including limescale, soap scum, toothpaste residue and water marks around sinks, washbasins and shower doors.

Even outside these rooms, surfaces such as door handles, baseboards, table mats and PVC areas can require regular attention.

Making everyday cleaning simpler

This is where the versatility of products such as CIF Cream becomes useful.

CIF Cream can help tackle a range of common household cleaning challenges across suitable surfaces, from grease and burnt-on food in the kitchen to limescale and soap scum in the bathroom.

Its uses can also extend to other suitable areas and items around the home, including cupboard doors, appliance exteriors, PVC surfaces and more, when used according to product directions.

For busy households, the benefit is straightforward: a versatile cleaner can help reduce the complexity of everyday cleaning by addressing several common cleaning needs with one product.

Consumers should always follow product instructions and check suitability before using any cleaner on a particular surface.

CIF products are now available at Cargills, Keells, Glomark and Celeste, as well as online through Daraz and uStore, at a retail price of Rs. 900 for 500ml. Shop CIF online at https://ustore.lk/collections/cif or https://www.daraz.lk/cif/

As household routines continue to evolve, multi-surface cleaning provides a simple approach to keeping different areas of the home clean — one versatile solution for many of the everyday messes that come with daily life.

 

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Dreams in motion for group of young Olympiad contenders

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SriLankan Airlines set dreams in motion for 24 young students selected to represent Sri Lanka at the 2026 International Mathematics and Science Olympiad, held in Indonesia from 2 to 7 October 2026, helping make their journey to Indonesia and back an extra special one.

The students were selected through a four-stage national selection process covering school, zonal, provincial and national levels, with the highest-performing students progressing at each stage.

As a special initiative for Children’s Day, the Ministry of Education sponsored the air travel of all 24 students for the first time. Returning to Sri Lanka with an impressive haul of three Silver Medals and 10 Bronze Medals, the young contestants competed alongside students from 23 countries.

SriLankan Airlines was privileged to be part of their special journey, helping make their experience even more memorable as they represented Sri Lanka on the international stage.

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