Monday Nov 17, 2025
Monday Nov 17, 2025
Monday, 17 November 2025 00:21 - - {{hitsCtrl.values.hits}}
From left: SLT Group Chairman Dr. Mothilal de Silva, Group CEO Imantha Wijekoon, and Mobitel Chief Operating Officer Sudharshana Geeganage
Sri Lanka Telecom (SLT) Group yesterday said it has reported a robust financial performance for the third quarter and nine months ended 30 September 2025, continuing an upward trajectory with substantial improvements in profitability, operational efficiency, and strategic cost management.
In a statement, SLT said the Group’s disciplined execution and focus on financial resilience have resulted in a sustained turnaround from the previous year, strengthening its position as a key enabler of Sri Lanka’s digital economy.
In 3Q 2025, the Group advanced the strong performance, achieving a Profit After Tax (PAT) of Rs. 2.2 billion, compared to Rs. 1.1 billion in 3Q 2024.
SLT Group..
Reduced finance costs contributed significantly to the 100.2% surge in profitability.
At the company level, SLT PLC witnessed similar traction, posting a sharp improvement in PAT of Rs. 1.4 billion, against Rs. 932 million year-on-year (YoY), signalling a 53% increase driven by lower interest costs. Mobitel delivered a surge in profits contributing Rs. 639 million, compared to Rs. 17 million in 3Q 2024, denoting an exceptional 3,660% improvement.
For the first nine months, SLT Group posted a significant increase in PAT, reaching Rs. 6.5 billion, up sharply from Rs. 770 million in 9M 2024. At the company level, SLT recorded a PAT of Rs. 4.1 billion, marking a 238% increase from Rs. 1.2 billion in 9M 2024. Mobitel carried forward its turnaround, delivering Rs. 1.7 billion in net profit compared to a loss of Rs. 1.1 billion a year earlier, reinforcing financial recovery and operational momentum.
SLT Group Chairman Dr. Mothilal de Silva said: “SLT Group’s 9M results demonstrate the strength of the organisation’s strategic transformation and the resilience of the teams. Our profitability surge has created a financial milestone, a signal of renewed governance, sharper execution, and an unwavering commitment to national progress. We are proud to be powering Sri Lanka’s digital future with purpose and discipline.”
In 3Q 2025, SLT Group built on its solid financial path, with a 18.6% YoY growth in operating profit at Group level. SLT company-level operating profit rose modestly by 0.1%, while Mobitel delivered a more pronounced improvement, with a 32% increase in operating profit from Rs. 897 million to Rs. 1,184 million, building on the turnaround momentum from earlier quarters.
The Group’s Profit Before Tax (PBT) surged by 93% compared to 3Q 2024, with net profit showcasing similar momentum, increasing by 100% over the same quarter last year. Mobitel’s pre-tax profit alone surged 125% to Rs. 1,039 million.
Group revenue for 3Q 2025 stood at Rs. 29.5 billion, heralding a 3.3% increase YoY. SLT company-level revenue rose by 1.7%, with key growth drivers being broadband, the Small and Medium Enterprise (SME) segment, and enterprise revenue services.
Mobitel’s performance remained a key driver of growth, with revenue increasing 4% from Rs. 11,651 million to Rs. 12,115 million. These gains indicate the continued strength of Mobitel’s market positioning and service delivery, particularly in data services and network quality.
The Group’s cost optimisation strategy remained central to profitability gains. For 3Q 2025, direct costs declined by 3.8% at Group level and by 5.8% at SLT, while Mobitel maintained cost stability with operating costs reducing by 2.5% through efficiency measures.
Sales and marketing expenses rose by 14.5% at Group level, driven by SLT’s 27.4% increase during 3Q 2025. Mobitel, in contrast, recorded a decrease in marketing expenditure. Administrative expenses increased by 8.2% at Group level, with SLT and Mobitel contributing proportionately to this rise in line with strategic growth initiatives.
Finance costs saw a notable reduction in 3Q 2025, with Group-level interest expenses down by 24.2% and SLT achieving a 30.1% decline due to reduced borrowings and improved financial management. Mobitel’s finance costs rose slightly, due to increased borrowing directed on investments in network coverage and capacity. These shifts provide the Group’s continued focus on balancing investment with financial prudence, strengthening the position as a resilient and forward-looking leader in Sri Lanka’s telecommunications sector.
SLT Group CEO Imantha Wijekoon said: “SLT Group’s 9M performance is a direct result of disciplined execution and strategic clarity. We continue to invest in digital infrastructure and innovation to shape the future of connectivity for the nation, and as a driver of sustainable growth. These results reflect our commitment to delivering long-term value to all stakeholders.”
Mobitel Chief Operating Officer Sudharshana Geeganage said: “Mobitel’s impressive turnaround of Rs. 1.7 billion profits in 9M 2025 compared to a Rs. 1.1 billion loss YoY is the result of focused execution and strategic agility. Our anchored growth in 3Q reflects the company’s ability to adapt, innovate, and deliver value. The company’s strategic focus on data services, network quality, and operational efficiency has translated into improved market positioning and financial resilience.”
He holds a Master’s degree in Financial Economics from the University of Colombo and a Bachelor’s degree in Management from the University of Sri Jayewardenepura. He has also completed two Postgraduate Diplomas in Accountancy from the same university and a Diploma in Public Finance Management from the Institute of Development Administration.
Hapugala is a Chartered Public Finance Accountant (CPFA) of the Association of Public Finance Accountants of the Institute of Chartered Accountants of Sri Lanka.
Madhav has held leadership and advisory roles in management consulting and the telecom and media sectors. He worked with Price Waterhouse Coopers in London before serving as a Director in the firm’s consulting practice in India, where he handled large systems, processes, and strategy assignments in both countries. He later held senior roles at the UT Group Companies from 1995, including Director South Asia and CEO of AOL, focusing on international business.
He has served on the Boards of several UT Group entities in India, including Aircel, Sun Direct Television, Red FM, and SAFL, and has been a member of their audit and risk committees.
Madhav holds an honours degree in Economics from St. Stephen’s College, India, is a Chartered Accountant, and has completed the Advanced Management Program at Harvard Business School.
Nations Trust..
NTB Director and CEO Hemantha D. Gunetilleke said: “The bank’s performance in the third quarter of 2025 demonstrates NTB’s financial strength and the successful execution of a clearly defined strategy. Customer lending grew by Rs. 131 billion, a 45% increase over the first nine months, significantly contributing to the growth of businesses and economic revival across customer segments. This demonstrates our focus on service excellence, digital empowerment, and strategic planning that places our customers at the centre of everything we do. Our robust capital position and strong liquidity buffers continue to highlight our strength and readiness for sustained growth.”
As a result of efficient asset-liability management and prudent pricing strategies, the bank was able to sustain a NIM of 6.15%. The bank’s Earnings Per Share for the nine months ending 30 September 2025 increased to Rs. 45.10, against Rs. 36.80 recorded during the same period last year. Asset quality remained sound, with the net Stage 3 ratio contained at 1.03%, underscoring effective credit risk management.
Strong financial performance continues to bolster NTB’s capital base with a Tier 1 capital ratio of 18.90% and a Total Capital Adequacy Ratio of 20.03%, well above the regulatory requirements of 8.5% and 12.5%, respectively.
On 24 September, NTB signed a Sale and Purchase Agreement to acquire Hongkong and Shanghai Banking Corporation’s (HSBC) Retail Banking operations in Sri Lanka. This strategic acquisition will cover HSBC Sri Lanka’s branch network, premium banking customers, credit cards, retail loans, and approximately 200,000 consumer banking customer accounts. The transaction is subject to mandatory regulatory approval and is expected to be completed in the first half of 2026. For NTB, the acquisition of HSBC’s Retail Banking business in Sri Lanka will be a catalyst for the next phase of growth.
