Business

SLT Group topline surpasses Rs. 100 billion, recording Rs. 12.2 billion Profit After Taxes

Published

5 years ago

2022/02/18

Sri Lanka Telecom PLC (SLT) Group, the National ICT Solutions Provider, concluded the financial year 2021 on a high note, recording a turnover of Rs. 102.3 Bn for the year ended December 31, 2021 marking a topline growth of 12.3% year-on-year. The Group’s sustained growth resulted in a Profit After Tax (PAT) of Rs. 12.2 Bn, a growth of 54.3% as compared to the previous year.

Group profits were propelled forward by robust performances by multiple business segments. The EBITDA of the Group grew at 16.6% during the period on the backdrop of Operating Profit growth of 19.0%. SLT’s sustained investment on expanding fiber connectivity (FTTH) and significant expansions and upgrades in the 4G/LTE network resulted in the surge in Broadband revenue during the year. Further, SLT experienced a revenue growth in PEO TV in a market receptive to quality education and entertainment options online, expanding to hitherto untapped markets during the year under review. Xyntac, the Global unit of SLT-MOBITEL adds strength to the overall business, with the investment in the new SEA-ME-WE 6 cable, set to elevate Sri Lanka’s global connectivity capacity to the next level. The state-of-the-art data center that bolsters the digital capabilities of SLT-MOBITEL, and the Akaza multi-cloud platform too continue to add value to the company.

SLT Group Chairman, Rohan Fernando stated, “Looking back on 2021, I can proudly say that we have achieved way beyond what we expected and closed the year with an all-time best record in every aspect may it be financial, corporate governance or above all else national responsibility. The principles we diligently adhered to on zero corruption, waste control, high efficiency and inclusive management has helped overcome all obstacles in 2021. Going forward our new direction will be in meeting competition and enticing customers towards the SLT Group. We will look at the transformation of our business from “Telco to Techno”, to cover many aspects of technology directly involved with our business. Technology companies are the most powerful in the world driving economies and all services essentially required for human beings. We at SLT-MOBITEL are at the center of technology and best positioned to be a driving force in Sri Lanka.”

Group revenue for Q4 2021 grew by 7.5% compared to the same quarter of the previous year to Rs. 25.7 Bn, with the EBITDA and Operating Profit growing by 21.3% and 34.8% respectively. The Group Profit After Tax (PAT) for the quarter climbed to Rs. 3.0 Bn, a 162.9% year-on-year growth.

“The past year was one of discovery and resilience, and one we were all fully invested in. Our growth in all areas is a testament to it. The SLT-MOBITEL brand unification propelled the Group forward, enticing customers to embrace the National Service Provider and to trust in us to provide uninterrupted connectivity despite the challenges we faced as a country. The divesting of our non-core businesses has brought in good results and will now allow us single minded focus on our core businesses, allowing us to propel SLT Group’s to the pinnacle of digital leadership. The Group is passionate to cement our leadership in the industry and meet the competition head on, and with a commitment to inclusive management, we will work as one team to achieve our business goals as SLT-MOBITEL.” Remarked SLT Group Chief Executive Officer Lalith Seneviratne.

The holding company of the Group, Sri Lanka Telecom PLC (SLT) recorded an impressive 16.0% increase in revenue over the last year reaching Rs. 59.8 Bn. The PAT of the company went up to Rs. 5.9 Bn, reflecting a 45.9% year-on-year growth. The Company saw a heightened growth in revenues from Broadband, PEOTV and Carrier Domestic services during the year compared to the year before.

SLT Chief Executive Officer, Janaka Abeysinghe commented, “Our decision to boldly pursue digitalisation unabated during the pandemic, has stood us in good stead. The people depended on the national ICT solutions provider to give them uninterrupted domestic and global voice and data services and our ability to provide them with that has driven both topline and bottom-line growth in the company. We work to ensure the digital divide continues to shrink, capitalising on our growth with the support of our committed employees, to deliver the best for our customers.”

Mobitel (Pvt.) Ltd., the mobile arm of the Group recorded its highest profits in its 28-year history with a PAT of Rs. 8.0 Bn. marking a growth of 63.8% in PAT year-on-year. The growth was mainly driven by the Broadband segment. Despite the adverse macroeconomic conditions and other challenges, Mobitel recorded a revenue of Rs. 47.1 Bn, a noteworthy 8.7% year-on-year growth compared to the previous year. Mobitel’s post-paid voice revenue and international incoming Voice revenue too reported a considerable growth during the same period. EBITDA increased by 17.7% to Rs. 19.5 Bn, reflecting the growth in revenue and operational efficiencies.

“The Mobitel Team has diligently worked on ensuring it fulfills the need for essential mobile connectivity in Sri Lanka. It is gratifying to see the outstanding results of that hard work, especially given the less-than-ideal macroeconomic conditions we faced. As the only truly Sri Lankan mobile services provider, Mobitel is committed to provide our customers island-wide an enriching voice and data usage experience, ensuring a smooth digital journey for all.” stated Mobitel (Pvt) Ltd, Chief Executive Officer, Chandika Vitharena.

SLT managed to lower its group level borrowings during the year under review. Further, the Group’s Operating cash flows displayed a continuous improvement with a 22.8% increase compared to the previous year. The Group stated that despite forex challenges in the country, the devaluation exposure to the Group was low, with SLT making gains on exchange due to prudent forex management.

All News Advertisement

Business

Financial literacy central to country’s development – CBSL Governor

Published

23 hours ago

2026/10/13

Sahan Weerasooriya

Dr. Nandalal Weerasinghe: ‘Financial literacy vital’.

By Hiran H. Senewiratne

Sri Lanka’s financial literacy rate is approximately 58 percent. Such literacy is absolutely necessary for the inclusion of people in the country’s financial system which in turn is central to overall economic development, Central Bank Governor Dr. Nandalal Weerasinghe said.

‘One needs to have knowledge and skills of a financial nature to figure in financial inclusiveness. While 86 percent of Sri Lanka’s population has access to the country’s financial system, 82 percent of the public has at least a savings account in the country’s banking system, Dr Weerasinghe said.

The Governor made these comments recently at the inauguration of Financial Literacy Month 2026 at the Central Bank’s Centre for Banking Studies, Rajagiriya.

Dr. Weerasinghe added: ‘Suitable, affordable and quality financial instruments are needed to enhance financial literacy in the country.

‘Financial information has to be accurate, risk-free and accountable, thus creating confidentiality in the financial system, which would enable the sector to reach greater heights’.

Meanwhile CBSL sources said: ‘The Literacy Month opened with the two-day ‘FinLit Expo Colombo’. The expo gives the public the opportunity to engage with institutions, better understand financial services, gain practical insights into managing their finances and learn how to protect themselves from financial fraud and scams.

‘The CBSL is leading the program in collaboration with stakeholder institutions. It forms part of the Financial Literacy Roadmap for Sri Lanka, which is implemented under the National Financial Inclusion Strategy (NFIS), the national framework for widening access to and use of formal financial services.

‘The Colombo event will be followed by six regional ‘FinLit Expos’ aimed at direct engagement with local communities. Partner institutions will also run awareness activities. Together, the events are intended to provide financial education to communities and encourage people to apply financial knowledge in everyday life.

‘A public awareness campaign on television, radio, newspapers and social media will extend the program’s reach. The program also includes digital financial literacy activities and the promotion of QR codes and other online payment methods.

‘The public and stakeholder institutions are encouraged to take part in the month’s activities under the theme, “Towards a Financially Literate Sri Lanka”.

Business

HUTCH strikes five awards as the only telco honoured at SLIM DIGIS 2.6

Published

23 hours ago

2026/10/13

Sahan Weerasooriya

HUTCH Sri Lanka strengthened its position as a leader in digital engagement by securing five accolades at SLIM Digis 2.6, emerging as one of the most recognized brands at this year’s digital excellence awards. The achievement was further highlighted by HUTCH being the only telecom operator to be recognized at the event.

Organized by the Sri Lanka Institute of Marketing (SLIM), SLIM Digis is Sri Lanka’s premier platform celebrating excellence, innovation, and outstanding achievements in the digital marketing industry. The recognition highlights HUTCH’s growing strength in digital-first, agile, and creative marketing, and its ability to respond to everyday moments, engage audiences, and deliver impactful digital campaigns.

The Gold Award for Best Use of Agile and Moment Marketing, a Silver for Best Use of Digital in a Marketing Campaign, and a Bronze for Best Performance Marketing were all awarded for “Keeping Sri Lanka Connected Through Ditwah,” HUTCH’s response to the cyclone that struck Sri Lanka in November 2025, recognised for the speed and relevance with which HUTCH kept customers better connected and informed.

HUTCH Roaming also earned two further Bronze awards for Best Use of Digital in a Marketing Campaign and Best Use of Creative Content. Bringing together AI-led storytelling, the campaign was designed around distinct customer clusters, each characterized by unique travel behaviours, needs, and perceptions, delivering relevant content for different audiences within a single overarching campaign.

“These wins are a strong reflection of how HUTCH approaches marketing today, staying close to the moments that matter to our customers and responding with speed, relevance, and creativity. Being the only telco recognised at SLIM DIGIS 2.6, and across five categories, is proof that agility and thoughtful storytelling can go hand in hand. This recognition reflects the collective efforts with our strategic partners, whose collaboration, expertise, and shared commitment brought great campaigns to life,” said Hamdhy Hassen, Chief Marketing Officer, HUTCH Sri Lanka.

Business

Fairway Colombo named Official Accommodation Partner of Manhunt International 2026

Published

23 hours ago

2026/10/13

Sahan Weerasooriya

(L-R): Gamunu Cooray, Ms. Tharushi Kulathunga, Avinga Wanigasekara, Arjuna Senanayake, and Jagath De Almeda at the signing ceremony held at Fairway Colombo.

Sri Lanka’s Smart Luxury Business Hotel to Host Delegates and Contestants from Over 40 Countries as the Island Nation Hosts Its First-Ever Global Pageant of This Scale

Fairway Colombo, a subsidiary of Fairway Holdings (Pvt) Ltd, has been appointed as the Official Accommodation Partner for Manhunt International 2026, one of the world’s most prestigious male pageants, scheduled to take place in Sri Lanka.

The event marks a historic milestone for Sri Lanka, as the country prepares to host a global pageant of this scale for the very first time. More than 40 contestants representing countries from across the world will arrive in Colombo, bringing together diverse cultures, international media attention, and a global audience — further strengthening Sri Lanka’s position as a premier destination for tourism, culture, and hospitality.

As the official accommodation partner, Fairway Colombo will welcome and host international delegates and contestants throughout their stay in Colombo, delivering the exceptional hospitality experience and personalized service that the hotel is recognized for.

A Landmark Partnership for Sri Lankan Tourism

“We are truly honored to be selected as the Official Accommodation Partner for Manhunt International 2026. This partnership is a proud moment not only for Fairway Colombo but also for Sri Lanka as a whole. Hosting an event of this global stature provides us with an opportunity to showcase our commitment to smart luxury, innovation, and authentic Sri Lankan hospitality to an international audience. We look forward to creating a memorable and seamless experience for all delegates and guests,” said Avinga Wanigasekara, General Manager of Fairway Colombo.

Strategically located in the heart of Colombo’s historic Fort district, Fairway Colombo is recognized as a Smart Luxury Business Hotel, combining modern comfort, advanced technology, and exceptional service. As part of Fairway Holdings (Pvt) Ltd, the property represents the group’s vision of delivering innovative, world-class experiences across the hospitality and leisure sectors.