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SLT Group net profit up by 35%, revenue recorded at Rs. 67.2 bn. in first nine months 2020

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The broadband revenue of the Group surged significantly over the same period last year underpinned by the increase of FTTH (Fiber-to-the-Home) footprints across the country by the ongoing accelerated Fiber Expansion Program by SLT and the increase of mobile broadband services by Mobitel (Pvt) Ltd. PEOTV revenues too soared during the period under review. However, the Group experienced a de-growth in Voice revenues in both SLT and Mobitel (Pvt) Ltd.

The Group’s stringent cost management measures maintained the Group’s Operating Costs before Depreciation and Amortization at the same level compared to last year, pushing the EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) margin up to 39.3% from 34.9%. The EBITDA increased to Rs. 26.4 Bn, up by 18.4% YoY. The Depreciation and Amortization of the Group increased by 9.8% YoY to Rs. 16.7 Bn. The Group recorded an impressive growth in Operating Profits of 37.0% YoY to Rs. 9.7 Bn mainly due to the elevated EBITDA of the period.

The Interest Expenses and Finance Costs rose to Rs. 2.1 Bn from Rs. 1.4 Bn YoY as a result of increased borrowings to finance the growing capital expenditure in order to align with the global technological trends and fulfilling the changing customer demands. FOREX losses of the Group mounted to Rs. 0.8 Bn from Rs. 58 Mn in the same period last year stemming from the depreciation of the Sri Lankan Rupee against USD, mainly due to the adverse impacts during the early stages of Covid-19 pandemic.

Group Profit Before Tax (PBT) recorded at Rs. 8.3 Bn, a 18.9% growth compared to the year before, while Profit After Tax (PAT) posted at Rs. 6.7 Bn, demonstrating a YoY increase of 35.4%. The PAT margin went up to 10.0% from 7.8% for the same period the year earlier.

During the first nine months of 2020, SLT Group paid out a total of Rs. 11.8 Bn as Direct and Indirect Taxes and Levies to the Government of Sri Lanka.

Rohan Fernando, the Group Chairman, commented, “Our performance in the first nine months is strong evidence of SLT Group’s ability to navigate during uncertain times. This performance is a testament to the vital role that our products play in our customers’ lives. Our goal is to make the SLT Group the number one in the telecommunication and digital market. In order to realize that goal we explore new local and international markets, join hands with new funding partners and utilize/ monetize the underutilized assets within the Group. We need to build and improve positive attitudes in the mindsets of our customers, employees and all other stakeholders to accomplish better than yesterday. The progress we have achieved in the first nine months will help us to gradually reduce the accumulated borrowing incurred on developing the National Fiberization program. This initiative which began in 2017 has placed the company on a strong platform to move further in the Digital world”.

Lalith Seneviratne, the Group Chief Executive Officer, remarked, “As a Group with widespread operations across the country in both fixed and mobile operating services, resourced with expertized human capital and physical capital, we strive to leverage the synergies within the Group and thereby to improve efficiency and lower the operational expenses. We have already made several initiatives on the same and we will continue to reap the benefits of Group collaborations over the years to come”.

Mr. Kiththi Perera, Chief Executive Officer of SLT stated, “SLT proudly launched ‘SLTGO’ the community WiFi network recently, in partnership with FON Wireless Limited, the world’s largest community WiFi network operator. This solution provides an opportunity to SLT customers to access internet anywhere from SLTGO WiFi hotspots in Sri Lanka and from 23 million WiFi hotspots all over the world. In addition, as a responsible corporate citizen, SLT is involved in many CSR activities including the ‘e-waste’ collection week in partnership with the Central Environmental Authority and the Department of Posts, and joined hands with Mobitel to transform discarded buses into libraries. We always believe delivering value to our customers, communities and all other stakeholders is the most promising way to build long term value”.

Mr. Priyantha Fernandez, Chief Operating Officer of SLT added, “We have successfully commenced the Phase 3 of accelerated Fiber Expansion Program to provide FTTH (Fiber-to-the-Home) connections across the country to provide an ultra-speed experience to our valued customers. We extended PEO TV GO services to our 4G LTE customers too to enjoy their favourite TV programs. I’m pleased to announce that our cloud based ‘SLT Storage’ facility reached one million files recently. Further, as the digital lifestyle partner of the country SLT entered into the mobile gaming arena with ‘SLT Kimaki’ in partnership with Arimac Lanka (Pvt) Ltd”.



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CIF, the world’s favorite multi-surface cleaning brand, arrives in Sri Lanka

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CIF, the globally recognized multi-surface cleaning brand, has officially entered the Sri Lankan market, expanding the range of international home-care solutions available to local consumers.

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

Used by households around the world, CIF is known for its powerful cleaning performance and ability to tackle everyday dirt and some of the toughest cleaning challenges around the home.

Its introduction to Sri Lanka comes as consumers increasingly seek cleaning products that combine performance, convenience and versatility, particularly solutions that can be used across multiple areas and surfaces within the home.

One cleaner. So many possibilities.

From stubborn kitchen grease and grime to limescale around sinks and dirt that builds up on frequently used surfaces, CIF is designed to provide powerful cleaning performance while helping make every day cleaning simpler.

The brand’s multi-surface proposition allows consumers to address a range of household cleaning needs with one versatile solution, bringing greater convenience to modern cleaning routines.

CIF’s entry into Sri Lanka also brings the brand’s global philosophy closer to local consumers eventually helping people restore and rediscover the beauty of the places and things around them through effective everyday cleaning.

With its combination of global recognition, multi-surface versatility and powerful cleaning performance, CIF’s arrival provides Sri Lankan consumers with a new international option in the household cleaning category.

The world’s favorite multi-surface cleaning brand is finally here in Sri Lanka.

Just CIF it!

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A sustained wave of Indian assistance to Sri Lanka showcases defining shift in developmental diplomacy

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Transport Minister Bimal Rathnayake and Indian High Commissioner Santosh Jha at the plaque unveiling ceremony for the Moragahakanda Bridge project, supported by Indian grant assistance.

By Sanath Nanayakkare

An evolving approach to regional diplomacy was brought into sharp focus with the recent foundation-laying ceremony for the Moragahakanda Bridge in Matale.

Jointly launched by Indian High Commissioner Santosh Jha and Minister of Transport, Highways and Urban Development Bimal Rathnayake, this 175-metre span is far more than a routine civil engineering project. It serves as the physical manifestation of a broader USD 450 million reconstruction package deployed by India in the wake of Cyclone Ditwah, which severely fractured the island’s transport arteries.

Foreign aid is too often discussed in cold, macroeconomic abstractions. Yet, every so often, a consistent pattern of targeted assistance alters the landscape of bilateral relations, offering a clear window into how regional partnerships evolve out of necessity and goodwill.

Across the country today, a remarkable narrative of multi-layered cooperation is unfolding.

From critical post-disaster infrastructure and maritime routes to grassroots agricultural uplift and institutional capacity-building, India’s developmental footprint is shifting unmistakably toward an organic, people-centric model of shared resilience.

What distinguishes this latest wave of assistance is its deliberate pivot from emergency support to permanent, climate-resilient transformation. When Cyclone Ditwah initially paralysed regional connectivity, India’s immediate response was marked by the rapid deployment of temporary Bailey bridges.

Today, that swift humanitarian intervention has matured into a structural blueprint: the Moragahakanda project stands as the vanguard of 13 permanent bridges being built across Sri Lanka’s provinces by IRCON International Limited, complemented by upcoming railway upgrades and modern signaling systems backed by a USD 250 million Line of Credit.

The true signature of this diplomatic shift lies in its breadth, operating simultaneously across multiple tiers of society:

Institutional Governance: Delegations of Sri Lankan parliamentarians and senior administrative officers regularly travel to India to study public policy frameworks, legislative systems, and administrative practices.

Economic Lifelines: Financial mechanisms, such as viability gap funding for the Nagapattinam-to-Kankesanthurai passenger ferry service, continue to shrink geographical distances, reviving coastal commerce and tourism.

Grassroots Empowerment: Specialised capacity-building programmes tailored for local stakeholders – ranging from state officials to rural dairy farmers -ensure that development reaches deep into the island’s hinterlands.

By aligning immediate disaster relief with long-term infrastructure, institutional capacity, and human capital, India and Sri Lanka are demonstrating how neighbours can build safer, more connected futures together, grounded firmly in mutual respect and tangible progress.

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Bring your own bag to book fair, CEA urges

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By Ifham Nizam

The Central Environmental Authority (CEA) yesterday urged visitors to the Colombo International Book Fair to bring reusable bags to carry their purchases, as part of a drive to reduce single-use plastic waste at the event.

CEA Director General R. S. P. Kapila Rajapaksha said large quantities of plastic, particularly “sili sili” bags, had been used to carry books at previous book fairs.

“We urge visitors to bring an environmentally friendly, reusable bag when they come to buy books. This simple step can help reduce the use of single-use plastic and protect the environment,” Rajapaksha said.

The book fair opens on September 25, with the CEA and the Sri Lanka Book Publishers’ Association launching an awareness programme targeting book sellers, food vendors and visitors.

The programme will be conducted under the theme “Read Smart, Carry Smart”, focusing on reducing polythene and plastic use throughout the exhibition.

The CEA said the use of plastic bags is also subject to regulations issued under the Consumer Affairs Authority Act. Gazette Extraordinary No. 2456/41, dated October 1, 2025, prohibits the free distribution of handled “sili sili” bags to consumers. Where such bags are sold, the charge must be included in the customer’s bill.

The CEA said food outlets at the book fair would also be required to comply with regulations prohibiting a range of single-use plastic products.

These include plastic straws and stirrers, disposable plastic plates, cups, spoons, forks and knives, as well as polythene-based food wrappers commonly known as lunch sheets.

The CEA said it had discussed the requirements with relevant stakeholders and reached agreement to ensure that prohibited products are not used at food outlets within the exhibition premises.

The authority urged both traders and visitors to cooperate with the initiative and help make this year’s book fair a more environmentally responsible event.

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