• SLT Group has reported that Profit After Tax (PAT) for the first half of 2025 reached Rs. 4.3 billion, a significant gain from the Rs. 323 million loss a year earlier.

At the company level, SLT delivered strong results, with a PAT of Rs. 2.6 billion in 1H, up 873% from Rs. 272 million in the previous year, while Mobitel achieved a significant turnaround with a PAT of Rs. 1.1 billion compared to a loss of Rs. 1.1 billion in 1H 2024, delivering strong financial momentum.

Meanwhile, SLT Group reported a PAT of Rs. 2.3 billion in the second quarter ended 30 June 2025, a significant increase compared to a loss of Rs. 479 million in Q2 2024.

At the company level, SLT recorded a strong rebound with a PAT of Rs. 1.3 billion versus a loss of Rs. 14 million a year ago, while Mobitel contributed Rs. 587 million compared to a loss of Rs. 610 million in Q2 2024.

Commenting on the performance, SLT Group Chairman Dr. Mothilal de Silva said: “SLT Group’s solid half-year performance, compared to a loss in the previous year, demonstrates the organisation’s resilience and effective execution. The progress reflects the impact of renewed strategic direction and sharper governance that has taken root throughout the Group. Our sustained profitability and discipline position SLT to contribute meaningfully to national development and deliver strong value to all stakeholders, in addition to being a key enabler of Sri Lanka’s digital economy.”

In Q2 2025, the Group achieved a turnaround in operating profit growth of 148% compared to the previous year, with SLT at the company level showing 61% growth and Mobitel delivering an extraordinary improvement, with operating profits increasing approximately 14,050%, building on the substantial turnaround from the previous year’s performance.

SLT Group posted a revenue growth of 2.6% at Rs. 27.3 billion for Q2 2025 and Rs. 17.7 billion at the SLT company level, maintaining a similar steady increase of 2.5% year-on-year (YoY). Overall, the quarterly revenues were primarily driven by Mobitel’s strong financials, with a growth of 6.4%. 

For Q2 2025, the Group’s comprehensive cost optimisation initiatives yielded significant results, with overall direct costs declining 13.5% compared to the previous year. SLT achieved similar cost reductions of 10.3%, while Mobitel reduced direct costs by 4%.

Quarterly sales and marketing expenses at the Group level increased YoY by 6.2%, primarily driven by SLT’s investments in market expansion, which saw a 17% increase in marketing spend. However, this was partially offset as a result of Mobitel’s 9.1% reduction in marketing costs. Administrative expenses rose 7.8% at the Group level, mainly attributed to increases in SLT and Mobitel. 

During the reported quarter, interest expenses of the overall Group decreased significantly. The Group finance cost declined 18.9%, primarily due to SLT’s 31% reduction in interest costs due to reduced borrowings. However, Mobitel’s interest costs increased 23.5% due to short-term project financing and working capital requirements. 

SLT Group CEO Janaka Abeysinghe said: “Our 1H 2025 results are due to the successful execution of SLT and Mobitel, fuelling the Group’s strong consolidated position. The increase in operating profits, driven primarily through cost optimisation initiatives, proves operational discipline. We continue to invest in network infrastructure and digital innovation, staying focused on driving sustainable growth and maintaining a leadership position in the telecommunications sector. These results and our cutting-edge connectivity solutions power Sri Lanka’s digital future.” 

Mobitel has continued to demonstrate strong operational and financial performance. The company’s strategic focus on data services and network quality improvements has translated into sustained revenue growth and improved market positioning.

Mobitel Chief Operating Officer (COO) Sudharshana Geeganage added: “Mobitel’s successful transition from Rs. 1.1 billion of losses in 1H 2024 to Rs. 1.1 billion of net profit in 1H 2025 illustrates the effectiveness of our strategic initiatives and improved market positioning. With a contribution of Rs. 1.6 billion to the Group’s overall revenue growth, we have successfully leveraged enhanced network capabilities and data services to capitalise on market opportunities while sustaining operational efficiency. The strong momentum positions Mobitel to continue leading Sri Lanka’s technological advancement.”

(Press release)