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Dialog Axiata PLC net profit after tax Rs. 10.8 billion for FY 2017

Sri Lanka’s premier telecommunications service provider, Dialog Axiata PLC Friday announced its consolidated financial results for the financial year ended 31st December 2017 of the main company and the Dialog Axiata Group including subsidiaries Dialog Broadband Networks (D BILLION) and Dialog Television (DTV).

On the backdrop of strong market performance across all key business segments, the Group ended FY 2017 on a strong note to record a consolidated revenue of Rs. 94.2 billion, demonstrating a growth of 9% Year-to-Date (YTD) while revenue growth moderated to 2% Quarter-on-Quarter (QoQ) to be recorded at Rs. 24.8 billion for Q4 2017.

Downstream of revenue growth, the Group Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) grew 16% YTD to record Rs. 33.9 billion for FY 2017, underpinned by disciplined cost management and operational efficiencies. The Group EBITDA margin for FY 2017 was accordingly recorded at 36%. Group EBITDA declined 3% QoQ to Rs. 9.1 billion in Q4 2017.

The Group Net Profit After Tax (NPAT) grew 19% YTD to be recorded at Rs. 10.8 billion for FY 2017. The Group NPAT performance was driven by improved EBITDA and lower non-cash translational forex losses of Rs. 400 million compared to Rs. 800 million during FY 2016.

The Sri Lanka Rupee (LKR) depreciated against the United States Dollar (USD) at a moderate 2.3% during FY 2017. The Group NPAT declined 15% QoQ in Q4 2017 to reach Rs. 3.2 billion due to lower EBITDA, higher depreciation and net finance cost.

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