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SLT Group Ends 2021 On A High Note With LKR 12.2 Billion PAT 
Posted 20,February

By Chaveendra Dunuwille

In Local News

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Sri Lanka Telecom PLC (SLT) concluded the 2021 financial year on a high note with a record turnover of LKR 102.3 billion and a Y-o-Y topline growth of 12.3%. The company recorded a Profit After Tax (PAT) of 12.2 billion, a 54.3% increase compared to the previous year. 

Significant investments in expanding the fiber connectivity network and upgrading 4G/ LTE networks saw a surge in broadband revenue as the company’s EBIDTA grew by 16.6% on the backdrop of a 19% increase in Operating Profit. 

Despite the quality education and entertainment options available online, the PEO TV division of the company also reported significant revenue growth. 

SLT Group Chairman Rohan Fernando stated that the company has achieved beyond expectations and says that their adherence to zero corruption, waste control, high efficiency, and inclusive management helped them overcome the obstacles of 2021. 

The group revenue in 4Q 2021 grew by 7.5% compared to the previous year to reach LKR 25.7 billion. The EBITDA and Operating Profit rose by 21.3% and 34.8%, respectively. The Group PAT in 4Q 2021 experienced a 162.9% growth reaching LKR 3.0 billion. 

The revenue of Sri Lanka Telecom PLC, the group’s holding company, rose by 16% to reach LKR 59.8 billion, while the PAT reached LKR 5.9 billion, a 45.9% Y-o-Y growth. 

Mobitel (Pvt.) Ltd reported the highest profits in its 28-year history, with the PAT reaching LKR 8 billion, a 63.8% growth compared to the previous year. Mobitel’s revenue was reported at LKR 47.1 billion, an 8.7% Y-o-Y growth compared to last year. 

SLT also reported that it paid LKR 19.3 billion in direct and indirect taxes to the Sri Lankan government.