News
SLT Group annual revenue surpasses Rs. 100 Bn again
Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider, posted impressive overall growth with annual revenue surpassing Rs 100 Bn once again, recording Rs 108 Bn for the financial year 2022.
This resulted in the Group recording a revenue increase of 5.2% for the financial year 2022, strengthened by a healthy bottom line of Rs 4,765 Mn Profit after Tax, enabling the Company to deliver on commitments to stakeholders against a backdrop of unprecedented macroeconomic and industry challenges.
Results at Group level is reflective of the transformational journey commenced in 2021 with a clear focus on operational efficiency through a consolidated business structure, optimisation of facilities, and cost efficiencies through the unified brand.
SLT Group Chairman, Rohan Fernando said, “2022 was a year of economic and social distress never witnessed before in the recent past in the country. Despite the tough operating environment and the many challenges unique to our industry, I’m proud to note that we have been able to stabilize the Group performance by infusing innovations into our core business and prudent cost saving measures. At the same time, learning to navigate through this volatile market conditions have placed the group in a strong position. Like any progressive business, transformation is critical to evolve and navigate challenging market conditions, to secure business sustainability and enable a future-ready workforce. We are firm in our resolve to realise our single-minded vision of transforming from a Telco company into a Techco (technology and communication) organisation to provide state-of-the-art solutions to individual customers, corporates, investors whilst supporting the growth of the country’s vital IT sector and enable socioeconomic progress. With business resilience, strategic management decisions and the capabilities of our 10,000 strong staff, we are confident we can leverage the opportunities, that are also presenting itself in this tough operating environment.”
At Company level, SLT Q4 revenues recorded a robust growth of 19.9% to Rs 18.1 Bn compared to the same period last year and more heightened growth with year-to-date figures indicating a 13% increase to Rs 67.6 Bn as against last year. As a result, SLT company posted a strong Profit after Tax of Rs. 8,463 Mn for the financial year 2022 with a 44.3% increase compared to last year .
The key YoY revenue drivers were the increases in Carrier Domestic, Broadband and Carrier International revenue streams. Additionally, due to the devaluation of the Sri Lankan Rupee since March 2022, the company registered a substantial foreign surplus.The Group’s Operating Profit for Q4 showed a growth of 5.1% to Rs 3 Bn against the previous quarter.
Quarter on Quarter (QoQ) performance was stronger compared to last year, increasing 16% at Rs 3 Bn. But due to the impact of the weak economic and business environment throughout the financial year the operating profit for the year declined to 9.6% at Rs 12.5 Bn compared to 2021.
The Group’s Operational Cost significantly grew last year due to rupee devaluation, inflation and rising interest rates, and stood at Rs 67.7 Bn for the financial year 2022.Further some subsidiaries including Mobitel (Pvt.) Ltd., the mobile arm of the Group, that faced heavy forex losses during this period, did impact and curb the growth of the Group last year.
During the last three years, the technological and communication needs of the country have witnessed tremendous acceleration and change. The responsibility of SLT-MOBITEL, in meeting the present and future demands, has become critical now more than ever as SLT-MOBITEL is also the sole backbone service provider for uninterrupted technical and communication operations of institutions and sectors that are vital for the country. The stability and performance of the organization therefore is critical during this time and all organizational decisions are made considering this national responsibility.
News
Sri Lanka cannot procure Russian oil before US sanctions return – Champika
… talks with Moscow cover fresh coal supplies
Eksath Janaraja Peramuna leader Patali Champika Ranawaka yesterday (01) said that Sri Lanka would not be able to secure oil from Russia before the reimposition of US sanctions on Russian oil. The former Minister said so at a joint Opposition media briefing in Colombo. He said it wouldn’t be possible to import Russian crude before the 12 April deadline.
Deputy Russian Energy Minister Roman Marshavin was here last week to discuss how the Russian Federation could help Sri Lanka meet its energy needs.
Sources familiar with the challenges faced by Sri Lanka, due to the disruption of crude/gas/refined products supply lines, said that the country’s only refinery needed crude to ensure the operation of the facility.
According to the Energy Ministry, during discussions with the delegation, led by Deputy Minister Marshavin, Sri Lanka was offered refined petrol, diesel and aviation fuel, in addition to crude oil. The discussions also covered the procurement of coal from Russia, according to the Ministry.
In 2025, the NPP government reached an agreement with an Indian supplier to bring in coal from South Africa. However, low-quality South African coal has caused a severe crisis due to the country’s only coal-fired power plant at Norochcholai failing to generate at the required levels, parliamentary sources said, referring to a report submitted by the CEB to the Parliament.
Meanwhile, informed sources said that there had been some discussions between Sri Lanka and India regarding the proposed move by the NPP government to procure oil directly from India.
Ranawaka said that of the six promised crude ships, four wouldn’t be coming, regardless of assurances given by the government. He alleged the government was trying to deceive the public that power cuts were inevitable due to continuing drought but the truth is the low-quality coal that caused the crisis. The recently announced electricity tariff hike, too, was due to the coal fraud, he alleged. (SF)
News
Japanese boost for public transport here
Japan will provide USD 362,476 (approx. Rs. 112 million), under “Grant Assistance for Grassroots Human Security Projects (GGP), to provide eight large low-floor buses for public transportation here.
Japanese Ambassador Akio Isomata and Transport, Highways and Urban Development Secretary Senior Professor K. Kapila C. K. Perera signed the agreement in this regard recently.
The project developed following discussions held between President Anura Kumara Dissanayake and Ms. Akiko Ikuina, the then Parliamentary Vice Minister of Foreign Affairs of Japan during her visit to Sri Lanka in February 2025, where a request was made by the President for the provision of large low-floor buses from Japan.
Emphasising the significance of the project, Ambassador Isomata remarked: “The large low-floor buses to be provided, which are completely refurbished used vehicles, comply with Euro 4 emission standards, ensuring that they are profoundly environmentally friendly. This project directly supports the “Clean Sri Lanka” initiative—one of the current administration’s most vital policies—by advancing the “greening” of the transport sector. By introducing these high-standard vehicles, we aim to address critical urban challenges: alleviating traffic congestion, enhancing economic efficiency, thus contributing to the reduction of economic losses incurred by traffic congestion. The large low-floor buses, by being accessible to the elderly people and persons with disabilities, also aligns with the concept of “human security, “which the Government of Japan adopts as one of the major pillars of its diplomacy with the aim of protecting and empowering the vulnerable people to live in dignity. I believe these buses help improve the overall Quality of Life (QOL) of the Sri Lankans by facilitating the smooth mobility of the workforce.”
Commenting on the receiving of this grant assistance, Senior Professor K. Kapila C. K. Perera, Secretary of Transport, Highways and Urban Development , stated:
“This valuable donation represents a significant step towards modernining and enhancing the efficiency of the public transport service, which plays an essential role in the day-to-day life of the people of Sri Lanka, and we believe it will provide direct and long-term benefits in improving their living standards. We express our sincere gratitude to the Government and people of Japan for their contribution towards the long-term programme to make the national vision of “A Thriving Nation – A Beautiful Life” a reality for the people of Sri Lanka, and we firmly believe that this will further strengthen the enduring and long-term relations between the two countries, fostering a collaborative effort to build a mutually beneficial future.”
Since 1989, Japan has been providing a total of USD 62 million in assistance for Sri Lanka through the GGP (Grant Assistance for Grassroots Human Security Projects) scheme.
News
2025 GCE AL: 62% qualify for Uni entrance; results of 111 suspended
The Examinations Department has said that 62.64 percent of the total applicants who sat the 2025 G.C.E. Advanced Level Examination qualified for university admission.
The results of the 2025 A/L Exams were released on Tuesday (31).
The Department of Examinations released the names of the students who secured the highest ranks across all subject streams.
The full list of top achievers across all streams is as follows:
Biological Science stream
• First Place: Dilan Sanjana (Royal College, Colombo)
• Second Place: Krishan Sasidu Namthara (Taxila Central College, Horana)
• Third Place: Darshana Konesh (Sri Shanmuga Hindu Ladies’ College, Trincomalee)
Physical Science Stream
• First Place: Devendan Thirukumaran (Kilinochchi Maha Vidyalaya)
• Second Place: Tharusha Gimhana Gamlath (Maliyadeva College, Kurunegala)
• Third Place: Vinura Prasad de Mel (Sri Sumangala Boys’ College, Panadura)
Commerce Stream
• First Place: Subaideen Mohamed Fardhan (Kattankudy Central College)
• Second Place: Senadi Dihasna Sumanasekara (Musaeus College, Colombo)
• Third Place: Dileepa Sandaras Karunaratne (Bandaranayake College, Gampaha)
The Commissioner General of Examinations, A.K.S. Indika Kumari Liyanage, also announced that 62.64% of candidates who sat the Examination have qualified for university entrance.
The A/L exam results were released Tuesday (31).
Out of a total of 281,810 candidates who sat the examination, 176,527 qualified for university admission. Additionally, the Department of Examinations stated that the results of 111 candidates have been withheld.
Meanwhile, a total of 7,477 school candidates, representing 3.38% of the total number of school applicants, obtained ‘A’ grades in all subjects. Furthermore, 823 private candidates also secured ‘A’ passes across all subjects.
The percentage of university admission eligibility by subject stream are as follows:
1. Biological Science – 59.56% (school candidates) and 58.43% (private candidates)
2. Physical Science – 63.96% and 61.59% respectively
3. Commerce – 72.02% and 66.29%
4. Arts – 67.57% and 63.57%
5. Engineering Technology – 64.85% and 62.65%
6. Bio Systems Technology – 71.76% (school candidates) and 70.24% overall
7. Other Subjects – 55.39% and 51.45%
Provincial distribution of candidates qualifying for university admission is as follows:
1. Western Province – 69.42%
2. North Western Province – 68.48%
3. Northern Province – 66.91%
4. Eastern Province – 66.32%
5. Southern Province – 65.69%
6. Sabaragamuwa Province – 64.97%
7. Uva Province – 63.53%
8. Central Province – 63.04%
9. North Central Province – 60.91%
Results of 111 candidates who had faced the exam have been suspended due to various reasons, according to the Department.
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