The SLT Group reported strong financial performance for the second quarter and first half of 2025, demonstrating continued momentum through significant improvements in profitability and cost management strategies. For the second quarter ended June 30, 2025, SLT Group achieved a Profit After Tax (PAT) of 2.3 billion rupees, compared to a loss of 479 million rupees in Q2 2024. SLT recorded a strong rebound at the company level with PAT of 1.3 billion rupees versus a loss of 14 million rupees year-over-year (YoY). In comparison, Mobitel contributed 587 million rupees compared to a loss of 610 million rupees in Q2 2024.
The Group’s half-year performance was impressive, with PAT reaching 4.3 billion rupees, up from a loss of 323 million rupees in 1H 2024. SLT posted a PAT of 2.6 billion rupees, an 873 percent increase from 272 million rupees last year. Mobitel rebounded with a PAT of 1.1 billion rupees, reversing a loss of 1.1 billion rupees in 1H 2024.
Dr. Mothilal de Silva, Chairman, SLT Group and turnaround specialist, said, “The SLT Group’s strong half-year performance, contrasting with last year’s loss, highlights our resilience and effective execution. This progress stems from our renewed strategic direction and improved governance. Our sustained profitability positions SLT to contribute to national development and enhance value for all stakeholders in Sri Lanka’s digital economy.”
In Q2 2025, the Group achieved a 148 percent increase in operating profit compared to the previous year, with SLT showing 61 percent growth and Mobitel significantly improving by approximately 14050 percent. The Group posted revenue growth of 2.6 percent, totaling 27.3 billion rupees, while SLT maintained a similar YoY increase of 2.5 percent with revenues of 17.7 billion rupees. Mobitel’s strong performance contributed to a revenue growth of 6.4 percent. Cost optimization initiatives led to a 13.5 percent decline in overall direct costs, with SLT reducing costs by 10.3 percent and Mobitel by four percent. During the reported quarter, interest expenses for the overall Group decreased significantly. Group finance costs have declined 18.9 percent, primarily due to SLT’s 31 percent reduction in interest costs as borrowings have been lessened. However, Mobitel’s interest costs increased 23.5 percent due to short-term project financing and working capital requirements.
Janaka Abeysinghe, SLT Group, CEO, explained, “Our 1H 2025 results reflect the successful execution of SLT and Mobitel, strengthening the Group’s position. Increased operating profits from cost optimization highlight our operational discipline. We are committed to investing in network infrastructure and digital innovation to drive sustainable growth and maintain leadership in the telecommunications sector. Our results and advanced connectivity solutions are key to powering Sri Lanka’s digital future.”
Sudharshana Geeganage, Mobitel COO, added, “Mobitel’s turnaround from 1.1 billion rupees in losses in H1 2024 to 1.1 billion rupees in net profit in H1 2025 showcases the success of our strategic initiatives. Contributing 1.6 billion rupees to overall revenue growth, we have leveraged enhanced network capabilities and data services to seize market opportunities while maintaining operational efficiency. This momentum positions Mobitel to lead technological advancement in Sri Lanka.”
