SLT surpasses Rs 50 b revenue
Sri Lanka Telecom (SLT) made history by being the first listed
company in Sri Lanka to surpass Rs 50 billion in revenue for the 12
months ending December 31, 2010 marking a milestone in the local
The SLT group recorded Rs 50.25 billion in revenue while reporting a
Profit Before Tax (PBT) of Rs 5.96 billion showing over 300 percent
growth and achieving Rs 3.94 billion in Profit After Tax (PAT) making an
increase of over 400 percent during the period under review.
The SLT, the parent company of the group and the mobile arm of the
group Mobitel, heavily contributed for this excellent financial
performance for the period.
Speaking about this milestone, SLT Group Chairman Nimal Welgama said
that the company is the first Sri Lankan company to achieve this record
and this achievement reflects their prudent cost management initiatives
and focus on subsidiary profitability.
He also said making considerable investments in infrastructure,
technology, training and development, the company has laid the
foundation to transform its traditional network to a Next Generation
Welgama pointed out that the group is striving to create a conducive
environment for sustained and consistent organizational growth,
instituting the principles of best practice, governance, prudent risk
management, emphasis on ethics, professionalism, transparency,
accountability and sincerity of action into its everyday workings.