Dialog Axiata Rebounds in Q3, Delivering Growth in Core Revenue and Profitability

Dialog Axiata PLC announced, its consolidated financial results for the nine months ended 30th September 2024. Financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”).

Excluding revenue from Airtel Lanka, YTD core Revenue growth was at 3%. Group Revenue reached Rs125.4Bn down 10% mainly resulting from the scaling down of low margin international wholesale business. The Q3 2024 Revenue was recorded at Rs42.8Bn up 5% Quarter-on-Quarter (“QoQ”).

EBITDA Reached Rs45.1Bn up 1% YTD and up 33% QoQ Total Taxes Paid to GoSL Rs35.1Bn for nine months ending 30th September 2024 which included Rs8.6Bn in Direct and Rs26.5Bn in Indirect Taxes

Net Profit reported at Rs4.5Bn for Q3 2024, up >+100% QoQ Operating Free Cash Flow up 35% YTD and 7% QoQ Capex Investments of Rs14.5Bn

The Group completed the amalgamation with Bharti Airtel Lanka (Private) Limited (“Airtel”) during the quarter under the applicable provisions of the Companies Act, with Dialog remaining as the surviving entity.

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