Sri Lanka Telecom Capex up 19.8% to Rs 9.49 billion in H1 2013

Sri Lanka Telecom (SLT) capex (capital expenditure) increased 19.8 percent to Rs 9.49 billion in the first half of 2013.

The group has made significant investments to expand its mobile, data and other infrastructure facilities.

The group revenue increased 5 percent to Rs 29.17 billion.

The group’s net profit increased 79 percent to Rs 2.33 billion.

Income from data, enterprise and whole sales sectors contributed to the growth.

Out of this, Sri Lanka Telecom H1 revenue rose 2 percent to Rs 17.56 billion from Rs 17.15 billion.

Srilanka Telecom

However, substitute products available in the market have curbed the revenues of voice and international services.

Sri Lanka Telecom will introduce value added services and better customer experience to improve revenue in coming months.

“Investing in new technologies, transforming staff to perform innovatively and creatively and introducing new processes the group will continue to excel in the market,” said Nimal Welgama, group chairman, SLT.

“Strategic investments in new technologies such as Wi-Fi, LTE also will play a pivotal role for the sustainable growth in a competitive market,” said Group CEO Lalith De Silva.

SLT is investing heavily in national backbone network (NBN) giving opportunities to peer operators in meeting their network requirements and aligning with the government ICT policy.

SLT is reaching migration of its customer base to the next generation network (NGN) giving experience of IP (Internet Protocol) base technologies to all stake holders.

Revenue of Mobitel, the mobile arm of the group, rose 10 percent to Rs 13.4 billion. The company will bring more revenue through growth in subscriber base as well as in the data business.

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