Dialog growth up 6% in 1st quarter

Dialog Axiata PLC said this week that its group continued its growth momentum across Mobile, Digital Pay Television and Fixed Line businesses to record consolidated revenue of Rs.17.3 billion for the 1st Quarter ending March 2015, demonstrating a growth of 6 per cent on a Year on Year (YoY) basis. Group revenue was stable on a Quarter on Quarter (QoQ) basis.

Group EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) for Q1 2015 was recorded at Rs. 6 billion, an increase of 9 per cent QoQ and 27% YoY. The strong QoQ increase in EBITDA was driven by operational efficiencies centred on cost management initiatives. Group EBITDA margin for Q1 2015 was registered at 34.5 per cent, according to a company media release.

Underpinned by the positive EBITDA growth trajectory, Group NPAT (Net Profit After Tax) for Q1 2015 grew by 34 per cent QoQ and 56 per cent YoY to be recorded at Rs. 2 billion. The group recorded a noncash, translational foreign exchange loss of Rs. 279 million for the quarter following the depreciation of the SLR relative to the USD by 1.1 per cent QoQ.

"The Dialog Group remitted a total of Rs. 5.9 billion to the Government of Sri Lanka (GoSL) during Q1 2015. Total remittances included direct taxes and levies as well as consumption taxes collected on behalf of the GoSL. Direct taxes, fees and levies contributed by the Dialog Group totalled to Rs. 2.4 billion inclusive of income tax. The group additionally collected consumption taxes, totalling to Rs. 3.5 billion on behalf of the GoSL in Q1 2015, comprising in the main of Telecom Levy collections amounting to Rs. 2.8 billion," the release said.

Dialog said that with respect to the oneoff taxes proposed for legislation through the (draft) Finance Bill, the impact of the said taxes is estimated at Rs. 3 billion.