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Mobitel posts impressive profit growth

Mobitel posts impressive profit growth

Tuesday, 26 February 2013, Colombo: Sri Lanka Telecom Mobitel, the National Mobile Service Provider announcing its financial results for FY2012 stated that it recorded an impressive revenue growth of 13% in 2012 despite intensified competition in the mobile telephony sector. In absolute terms, Mobitel recorded revenue of Rs. 24.93 bn in 2012 compared to Rs.22.08 bn in 2011, an increase of Rs.2.85 bn. This growth was realized mainly due to the increase in Mobitel’s subscriber base by 14% which is a remarkable achievement, considering the fact that the voice market has reached 100% penetration by 4Q 2012 according to the Telecom Regulatory Commission of Sri Lanka (TRCSL).  The growth in Mobitel’s subscriber base can be attributed to various factors including Mobitel’s continuous commitment and investments made towards scaling and upgrading its network infrastructure.
 
Completion of the stage VI project in mid-2012 led to significant enhancements in network coverage and capacity that has translated into better customer experience. An innovative product suite, a comprehensive service offering and an extensive reach to the furthest corners of the island also contributed towards significant growth in subscribers and revenue.
 
Prudent cost management initiatives coupled with measures to enhance productivity contributed to help negate the adverse impact of increased operational expenditure. The company recorded a growth in key profitability indicators EBITDA and EBIT which increased by 21% and 20% respectively compared to 2011.  In absolute terms EBITDA reached Rs. 8.28 bn while EBIT was recorded at Rs 3.24 bn. The company EBITDA margin improved from 31% to 33% which further endorses the operational efficiency of the organisation.
 
Thus, during 2012, Mobitel delivered a commendable performance successfully overcoming the challenges encountered, recording PBT (normalised to exclude exchange loss) of Rs. 2.98 bn and PAT of 2.43 bn, recording growth of 34% and 38% YoY respectively, the highest ever normalised profits recorded. 
Released date: 
Tuesday, February 26, 2013
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