SLT records 51 pc growth in profit before tax

Sri Lanka Telecom recorded a profit before tax of Rs. 3.26 billion in their first six months of the year. This is a 51 percent growth in comparison to the corresponding period of the previous year.

Nimal Welgama

SLT Group, chairman Nimal Welgama said SLT has strengthened its position as the country's leading Integrated Telecommunication Service Provider with strong market positions in Fixed, Mobile, International, Data, Wholesale and Broadband.

"Sri Lanka is now strongly positioned on a platform of fast tracked development. The national vision is to make every citizen ICT empowered. Therefore, in line with the government's objectives of ensuring that ICT is accessible to all, Sri Lanka Telecom has already taken many initiatives to take the ICT in the country to the next level including playing a pro active role in enabling ICT empowerment in remote villages of the country," the SLT group chairman said.

Meanwhile, Mobitel, the mobile arm of SLT group recorded a profit before tax of Rs. 1 billion and a net profit after tax of Rs 778 million recording growth rates of 36 percent and 44 percent respectively compared to corresponding period of the previous year.

The favourable macroeconomic climate in the country had a positive impact on interest rates and currency rates also resulting as a contributory factor in significant growth in profit of the company.