Key Takeaways:
- Sales Growth: Sri Lanka Telecom PLC reports increased sales for both the third quarter and the nine-month period ended September 30, 2024.
- Return to Profitability: The company achieved a net profit in Q3 2024, compared to a net loss in the same period last year. This positive trend continued for the nine-month period as well.
- Improved Earnings Per Share: Basic earnings per share from continuing operations also showed improvement, reflecting the company’s positive financial performance.
Colombo, Sri Lanka – Sri Lanka Telecom PLC has announced improved financial results for the third quarter and nine months ended September 30, 2024. The company reported increased sales and a return to profitability compared to the same period last year.
Third Quarter 2024 Highlights:
- Sales reached LKR 28,543 million, compared to LKR 27,712 million in Q3 2023.
- Net income was LKR 1,092 million, a significant improvement from the net loss of LKR 1,544 million in Q3 2023.
- Basic earnings per share from continuing operations were LKR 0.61, compared to a loss per share of LKR 0.86 in the same period last year.
Nine Months 2024 Highlights:
- Sales reached LKR 82,090 million, compared to LKR 80,439 million in the first nine months of 2023.
- Net income was LKR 767 million, a significant turnaround from the net loss of LKR 2,706 million in the same period last year.
- Basic earnings per share from continuing operations were LKR 0.42, compared to a loss per share of LKR 1.50 in the first nine months of 2023.
These results indicate a positive trend for Sri Lanka Telecom PLC, with improved sales and a return to profitability. The company’s performance reflects its efforts to enhance operational efficiency and adapt to the evolving telecommunications landscape.
