Dialog Axiata sees double digit growth in broadband unit

COLOMBO: Sri Lanka’s Dialog Axiata the island’s top mobile operator, has seen double digit growth in its broadband unit as mobile business barely grew interim accounts show, Economy Next reported.

Fixed telephony and broadband revenues grew to 32.2 billion rupees in 2020, up 19 percent, from 28.1 billion rupees a year earlier.

Quarter-on-quarter grwth was 12 percent, the firm said.

Revenues from external customers after removing intra group business was 29.7 billion rupees in 2020, up from 25.9 billion rupees last year, Economy Next reported.

Revenues were driven by home broadband and wholesale business volumes, Dialog said, Economy Next reported.

Broadband and fixed operating profits rose to 1.87 billion rupees 666 million rupees a year earlier.

Meanwhile, mobile revenues grew slowly to 86.7 billion rupees in 2020 from 85.4 billion rupees a year ago.

After inter group business was removed revenue from external customers fell to 81.7 billion rupees from 82.1 billion rupees, Economy Next reported.

However the sector still brought 15.9 billion rupees in operating profits during 2020 up from 15.2 billion rupees a year earlier.

Dialog said COVID-19 lockdowns had had 5 billion rupee hit on business, while discounts had also been given especially at Dialog Television.