July 30, 2016 5:35 PM ET

Wireless Telecommunication Services

Company Overview of Mobitel (Pvt) Ltd.

Company Overview

Mobitel (Pvt) Ltd. provides mobile services in Sri Lanka. The company offers GSM, 3G, and 4G services; prepaid and postpaid connections; and IDD calls, international SMS and MMS services, voice, broadband, and email solutions. It also offers mCash service that allows users to maintain a mobile money account enabling users to deposit, withdraw, and transfer funds, as well as purchase goods and services, and pay their utility bills. The company was founded in 1993 and is based in Colombo, Sri Lanka. Mobitel (Pvt) Ltd. operates as a subsidiary of Sri Lanka Telecom PLC.

108, W.A.D Ramanayake Mawatha

Colombo,  02

Sri Lanka

Founded in 1993

Phone:

94 11 233 0550

Fax:

94 11 233 0396

Key Executives for Mobitel (Pvt) Ltd.

Chief Executive Officer
Senior General Manager of Corporate Planning & Marketing
Compensation as of Fiscal Year 2016.

Mobitel (Pvt) Ltd. Key Developments

Mobitel (Pvt) Ltd. Reports Earnings Results for the Year 2015

Mobitel (Pvt) Ltd. continued its growth momentum recording 6.4% growth in revenues for the financial year 2015. In absolute terms, the company recorded a sales turnover of LKR 32.5 billion in 2015 compared to LKR 30.6 billion in 2014, an increase of LKR 1.9 billion. The increase in revenue was mainly driven by Broadband. A growth trend similar to that of revenue continues across the company's profitability indicators with EBITDA growing in line with revenue by 6.5% recording LKR 10.5 billion and EBIT growing by 10% recording LKR 4.4 billion. The growth in EBITDA and EBIT is attributed to prudent cost management initiatives coupled with measures to enhance productivity. For the year 2015, the company reported an after tax profit of LKR 2.7 billion as against LKR 2.8 billion in financial year 2014, recording a marginal decline by 4%. The main contributory factor for the decline in net profit after tax was the US Dollar appreciation against the Sri Lankan Rupee resulting in an exchange loss of LKR 1.2 billion for the year 2015. The bottom line was also affected by the additional taxes imposed by the government during 2015 such as the mobile operator levy of LKR 250 million and Prepaid recharge tax given away in the form of a bonus to the customer.

Mobitel Considers Acquisition

Mobitel (Pvt) Ltd. said they are considering a strategic acquisition of a local operator to enhance the market position and asset base in line with a strategic investment plan. However with reference to the publicity given in some of the print and digital media with regard to an acquisition contemplated by Mobitel, the company denied assumptions and opinions made on the subject that Mobitel is intending a payment which is over and above the value of the target entity. Mobitel said they are following the due process required to be complied for such a transaction and no finality has been reached.

Sri Lanka Telecom Mobitel Announces Board Appointments

Sri Lanka Telecom Mobitel announced that, new members have been appointed to its Board of Directors. New board of Directors are P.G. Kumarasinghe Sirisena (Chairman), R.E.U. de Silva, K.D. Geeganage, Lai Choon Foong, Lawrence Paratz, Chan Chee Beng and Kanishka Senanayake.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 2, 2016
Hutchison Telecommunications Lanka (Private) Limited
 

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