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SLT Group annual revenue surpasses Rs. 100 Bn again

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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.



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Govt. extends ban on LTTE

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The NPP government has issued a new extraordinary gazette renewing and extending Sri Lanka’s long-standing ban on the LTTE and several Tamil diaspora organisations and individuals, continuing to designate them as “terrorists”.

The gazette, published recently, replaces a previous gazette issued in May 2025 and reaffirmed the proscription of a wide range of Tamil political and advocacy bodies operating around the world, alongside dozens of named individuals. The government alleged both the organisations and individuals listed are involved in “terrorism-related activities”.

The organisations blacklisted by the Sri Lankan government include:

• Liberation Tigers of Tamil Eelam (LTTE)

• Tamil Rehabilitation Organisation (TRO)

• Tamil Coordinating Committee (TCC)

• World Tamil Movement (WTM)

• Transnational Government of Tamil Eelam (TGTE)

• World Tamil Relief Fund (WTRF)

• National Council of Canadian Tamils (NCCT)

• Tamil Youth Organisation (TYO)

While the majority of the designations mirror those contained in the May 2025 gazette, the latest document updates identification details and addresses for a number of individuals and introduces at least one additional organisation to the list. All entries have been reissued under new reference numbers for 2026, though the underlying allegations and framing remain unchanged.

Successive governemnts have maintained a sweeping proscription regime against Tamil diaspora groups and individuals. A ban can make it a criminal offence for Sri Lankan citizens to maintain contact with these organisations or their members, severely restricting political engagement and stifling links between the diaspora and the Tamil homeland.

The original mass listings were introduced in 2014 under the administration of Mahinda Rajapaksa. Despite repeated outcry, subsequent governments have continued to uphold and renew the proscription regime, even after the Rajapaksas were voted out of power.

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Police obtain court order banning Wimal’s protest

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National Freedom Front (NFF) leader Wimal Weerawansa addresses a gathering outside the Education Ministry on Monday before launching a protest demanding the immediate resignation of Prime Minister Dr. Harini Amarasuriya as Education Minister over the inclusion of a link to an adult content website in the Grade 06 English module. (Pic by Thushara Atapattu)

Police yesterday (12) obtained an injunction order from the Kaduwela Magistrate’s court against the protest launched by National Freedom Front (NFF) leader and former Minister Wimal Weerawansa opposite the Education Ministry, Isurupaya, at Battaramulla.

Police informed Weerawansa of the court order. In line with the court order, the police informed Weerawansa that the road near the Ministry should not be obstructed and that no sound amplification equipment be used while the GCE Advanced Level (A/L) examination is in progress. The examination, put off due to Cyclone Ditwah, recommenced yesterday.

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Chinese Foreign Minister Wang Yi expresses optimism that Sri Lanka is on the right path to progres

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FM Herath with his Chinese counterpart Wang Yi

Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath held productive discussions with his Chinese counterpart Wang Yi today (12/01), during the latter’s brief visit to Sri Lanka.

The meeting aimed at further strengthening bilateral engagement and advancing the Strategic Cooperative Partnership between the two countries. Both Ministers reaffirmed the longstanding friendship and time-tested cooperation between Sri Lanka and China rooted in centuries of exchanges and consolidated since the establishment of diplomatic relations seven decades ago. The discussion also focused on enhancing partnership in the areas of trade, investment, development cooperation and tourism.

Minister Herath extended deep appreciation to the Government and the people of China for the steadfast support extended to Sri Lanka following cyclone Ditwah and requested further support for the second phase of resettlement, relocation and rebuilding, particularly for the restoration of affected infrastructure including identified roads, railways and bridges that are vital to connectivity, economic recovery and daily lives of people. Minister Wang assured China’s fullest support for this initiative and expressed confidence that Sri Lanka will continue its rapid recovery under the leadership of President Anura Kumara Disanayaka. He also welcomed the people-centric policies of the Government and expressed optimism that Sri Lanka is on the right path toward fulfilling aspirations of its people.

Minister Herath expressed appreciation for China’s constructive role in international fora and reiterated Sri Lanka’s firm commitment to the One China Policy and China’s sovereignty and territorial integrity.

Both Ministers also recalled the successful high level exchanges in the recent past, including visits of the President and the Prime Minister of Sri Lanka to China in 2025.

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