Mobitel reports strong profitability in Q3 2012

Mobitel continued its revenue growth despite heavy competition in the industry. Revenue for the first nine months of 2012 grew by 14 percent from Rs. 15.9 b to Rs. 18.2 b compared to the corresponding period of the previous year. Revenue growth was mainly driven by the increase in Mobitel’s subscriber base due to an enhanced customer experience.

Despite numerous challenges, Mobitel recorded growth in key profitability indicators with EBITDA and EBIT growing by 20 percent and 30 percent respectively during the period under review.

Growth in these profitability indicators was achieved from growth in revenue coupled with initiatives implemented for cost optimisation and productivity improvements. The company reported a healthy EBITDA margin of 33 percent which is a notable improvement over the previous year. Despite the exchange loss, PBT recorded an impressive growth of 45 percent for the period under review.

Mobitel also made an impressive net profit of over Rs.1 b during the third quarter, as a result of increasing revenues complemented by a marginal appreciation of the rupee.

CEO, Lalith de Silva said, “The performance in Q3 2012 has certainly been impressive. At Mobitel, this year, we have focused mainly on transforming ourselves and the way we work, setting the stage for unparalleled growth and leadership in the ICT industry.”

“Looking at our industry, we have focused on new strategies, policies, processes, technologies and ideas and have put in place a blueprint to catalyse and drive Mobitel to greater heights. We have a responsibility to lead the ICT transformation of Sri Lanka, enabling us to keep up with the rapid development targets of the Government, thus, transforming the country towards becoming the Wonder of Asia,” he said.