Business
University of Colombo walks away with top honours at 99x’s Hacktitude 2022
99x’s innovative use of technology saw over 600 undergraduates from across the island virtually participate in the inter-university hackathon Hacktitude last week. After nine hours of non-stop coding, Dalana Dharmathilake, Ashan Rathnaweera and Visal Jayathilaka of University of Colombo’s School of Computing (UCSC) walked away with top honours.
Just 12 teams from the 230 registered were able to score the full points and it was these outstanding 12 teams that were recognised at the awards ceremony hosted at Kingsbury, Colombo earlier this week. The winning team from UCSC received developer-grade, high-end Apple MacBooks for the entire team. The first and second runners-up were from the University of Moratuwa’s Computer Science and Engineering Faculty (UOM-CSE), and this faculty was also awarded the Hackitude Championship Trophy as the highest scoring university.
“Most undergraduates possess knowledge but lack the skills and capabilities required when entering the job market,” observed 99x Chief People Officer Damitha Jayasinghe. “However, by participating in Hacktitude, these 600+ students challenged themselves and improved their technical skills. The tests were created to give participants exposure to problems faced in real client projects, allowing them to develop their industry readiness before entering the job market.”
He added that it was an inspiring and exciting time for the 99x team as well, especially with the numerous positive comments received by the participants, who shared that they had learned a lot from the event.
Commenting on their Hacktitude experience, Dalana Dharmathilake of the winning team ‘NamakNa’, stated: “The format of the hackathon was a new experience for us all. It was challenging but very enjoyable. I think Hacktitude is a great competition for undergraduates to test and improve their skills in developing production-grade code. We are looking forward to participating in the next year as well. Thank you 99x for organizing such an amazing hackathon.”
Hacktitude saw undergraduates from 18 state and private universities participate and a noteworthy contribution from a group of enterprising boys from Ananda College. UCSC and UOM-CSE dominated the top 10 with their technical prowess, with the 11th and 12th teams hailing from the National School of Business Management (NSBM) and University of Moratuwa’s Information Technology faculty respectively.
A compulsory requirement of each participating team was the inclusion of an academic coach, a member of the university faculty who will mentor the teams throughout the competition. Pasindu Marasinghe, as academic coach of the winning UCSC team, also walked away with a MacBook and many prizes as he coached three other teams in the top 10.
The entire event was made possible by DevGrade, a first-of-its-kind platform developed by 99x to train product engineers, which too was put to the test in supporting the work of over 600 young developers over a period of nine hours. Given this success, 99x plans to continue Hacktitude as an annual event and is now exploring the possibility of extending it to schoolchildren, to educate them about ICT from a young age.
99x is a technology company co-creating well-engineered, innovative digital products for the Scandinavian market. Its expertise has been proven through a portfolio of over 150 impactful global digital products, developed together with leading Independent Software Vendors (ISVs). 99x employs over 350 technology and product specialists, who are high achievers, creative thinkers and team players. The company is one of Asia’s Best Workplaces for 2021 and has been named a Best Workplace in Sri Lanka for nine consecutive years.
Business
Dialog delivers strong growth, stronger national contribution in FY 2025
Dialog Axiata PLC announced, Friday 6th February 2026, its consolidated financial results (Reviewed) for the year ended 31st December 2025. Financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”).
Group Performance
The Group delivered a strong performance across Mobile, Fixed Line and Digital Pay Television businesses recording a positive Core Revenue growth of 16% Year to Date (“YTD”). Group Headline Revenue reached Rs179.6Bn, up 5% YTD, despite the continued strategic scaling down of low-margin international wholesale business. In Q4 2025, Revenue was recorded at Rs46.5Bn up 2% Quarter-on-Quarter (“QoQ”) and 2% Year-on-Year (“YoY”).
The Group Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) reached Rs86.0Bn up 30% YTD supported by Core Revenue performance and Cost Rescaling Initiatives. On a QoQ basis Group EBITDA demonstrated a modest growth to record at Rs23.0Bn up 2% QoQ with an EBITDA margin of 49.5% in line with the Revenue performance. Group EBITDA margin reached 47.9% for FY 2025, up 9.2pp.
Group Net Profit After Tax (“NPAT”) reached Rs20.8Bn for FY 2025, up 67% YTD mainly resulting from robust EBITDA growth, despite higher tax and net finance costs. Normalized for forex impact, NPAT growth was recorded at +>100% YTD to reach Rs22.1Bn. On a QoQ basis NPAT grew 3% to reach Rs5.9Bn resulting from strong EBITDA performance.
On the back of strong operational performance, the Group recorded Operating Free Cash Flow (“OFCF”)
of Rs49.3Bn for FY 2025 up >100% YTD.
Dividend Payment to Shareholders
In line with the dividend policy and financial performance of the Group and taking into account the forward investment requirements to serve the nation’s demand for Broadband and Digital services, the Board of Directors of Dialog Axiata PLC at its meeting held on 6th February 2026, resolved to propose for consideration by the Shareholders of the Company, a dividend to ordinary shareholders amounting to Rs1.50 per share. The said dividend, if approved by shareholders, would translate to a Dividend Yield of 5.0% based on share closing price for FY 2025. The dividend so proposed will be considered for approval by the shareholders at the Annual General Meeting (AGM) of the Company, the date pertaining to which would be notified in due course.
Company and Subsidiary Performance
At an entity level, Dialog Axiata PLC (the “Company”) continued to be the primary contributor to Group Revenue (76%) and Group EBITDA (74%). Aided by sustained growth in the Data segment and cost-rescaling initiatives, Company revenue was recorded at Rs135.8Bn for FY 2025, up 18% YTD, EBITDA rose 32% YTD to reach Rs63.6Bn. On a QoQ basis, Q4 2025 Revenue was recorded at Rs34.8Bn, down 1% QoQ due to a reclassification of Hubbing Revenue, while EBITDA decline 1% QoQ to record Rs17.0Bn, largely attributable to network restoration costs and donations made in relation to the Cyclone Ditwah relief efforts. Furthermore, NPAT was recorded at Rs15.6Bn for FY 2025, up 41% YTD. Normalised for forex impacts, the company NPAT was up +>100% YTD to reach Rs17.0Bn. On a QoQ basis, Company NPAT was recorded at Rs4.5Bn, down 6% QoQ.
Business
Ceylinco Life’s Pranama Scholarships reach 25-year milestone
Ceylinco Life has announced the launch of the 25th consecutive edition of its flagship Pranama Scholarships programme, marking a significant milestone in the company’s long-standing commitment to recognising and rewarding excellence among the children of its policyholders.
Under the 2026 programme, the life insurance market leader will present scholarships with a total cumulative value of Rs. 22.7 million, continuing a rewards initiative that has now been conducted without interruption for a quarter of a century. Since its inception, the Ceylinco Life Pranama Scholarships programme has benefitted 3,466 students across the country, representing a total investment of Rs. 240 million in nurturing academic achievement and outstanding performance in sports, arts and other extracurricular pursuits.
Business
Sri Lankans’ artistic genius glowingly manifests at Kala Pola ‘26
The artistic genius of Sri Lankans was amply manifest all over again at ‘Kala Pola ‘26’ which was held on February 8th at Ananda Coomaraswamy Mawatha Colombo 7; the usual, teeming and colourful venue for this annual grand exhibition and celebration of the work of local visual artists.
If there is one thing that has flourished memorably and resplendently in Sri Lanka over the centuries it is the artistic capability or genius of its people. It is something that all Sri Lankans could feel a sense of elation over because from the viewpoint of the arts, Sri Lanka is second to no other nation. With regard to the visual arts a veritable dazzling radiance of this inborn and persisting capability is seen at the annual open air ‘Kala Pola’.

A bird of Sri Lanka created from scraps of iron waste.
All capable visual artists, wherever they hail from in Sri Lanka, enjoy the opportunity of exhibiting their work at the ‘Kala Pola’ and this is a distinctive ‘positive’ of this annual event that draws numberless artists and viewers. There was an abundance of paintings, sketches and sculptures, for instance, and one work was as good as the other. Ample and equal space was afforded each artist. Its widely participatory and open nature enables one to describe the exhibition as exuding a profoundly democratic ethos.
Accordingly, this time around at ‘Kala Pola ‘26’ too Sri Lankans’ creative efforts were there to be viewed, studied and enjoyed in the customary carnival atmosphere where connoisseurs, local and foreign, met in a sprit of camaraderie and good cheer. Many thanks are owed once again to the George Keyt Foundation for the presentation of the event in association with the John Keells Group and the John Keells Foundation, not forgetting the Nations Trust Bank, which was the event’s Official Banking Partner. The exhibition was officially declared open by Chief Guest Marc-Andre Franche, UN Resident Coordinator in Sri Lanka.
By Lynn Ockersz
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