12. Sri Lanka Telecom
Sri Lanka Telecom (SLT) enters the Business Today TOP 30 for the year 2015-2016 at number 12. With Sri Lanka aiming for a full digital revolution in the country, SLT as the telecommunication giant of the nation has a major role to play.The group is the national ICT solutions provider and the national backbone network operator.
SLT continues to invest in infrastructure that includes high speed optical fibre broadband and mobile broadband technologies focusing on 4G LTE. SLT WiFi coverage was increased and the migration to next generation network was completed during the year. The completion of the 5.2 billion rupee investment in the SEA-ME-WE 5 submarine cable system will take the country's global connectivity capacity to a higher level.
The Group revenue was 68 billion rupees, which was an increase of 4.6 per cent that took into account the performance of SLT and its subsidiaries. SLT alone crossed 40 billion rupees in revenue. The mobile arm of the group Mobitel continued its upward trajectory with a revenue of 32.6 billion rupees, which was a 6.4 per cent increase from the previous year. This was due to broadband, value added services and voice revenue.
Total operating costs were at 48 billion rupees, which was due to investment in infrastructure expansion. Group PAT dropped by 38 per cent to 3.72 billion rupees compared to 6 billion rupees in the previous year.
Efficiency and speed is key for Sri Lanka in the spheres of ICT that will drive the economy to the next level as well as attract investment to the country. Sri Lanka Telecom needs to recognise this demand and cater to this requirement to ensure that it remains as the telecommunication giant of Sri Lanka.