Wednesday, 21 August 2024 11:33

SLT-MOBITEL reports moderate revenue growth in 1H 2024 Featured

SLT-MOBITEL, the National ICT Solutions Provider, has reported moderate revenue growth for the first half of 2024, while demonstrating savings through cost management initiatives.

The 1H 2024 performance establishes SLT-MOBITEL's resilience and adaptability in a challenging market environment. The moderate revenue growth, coupled with successful cost-saving initiatives, has led to notable improvements.

The Group’s revenue for 1H 2024 reached Rs. 53.5 billion, marking a 1.6% increase compared to the same period last year. Gross Profit at Group level has also increased by 4.0% to Rs 20.9 billion with the gross profit margin expanding to 39.0% from 38.1% in the previous year. The moderate growth was achieved despite challenges in the market such as customer churn and less demand for new connections.

The Group's EBITDA for the first half showed an increase of 17.1%, reaching Rs. 18.0 billion, while Operating Profit surged by 54.5% to Rs 3.6 billion. The EBITDA margin improved significantly to 33.6% from 29.2% in 1H 2023, reflecting the Group's ability to enhance operational efficiency while maintaining service quality.

 

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