The SLT Group reported a strong start to 2026, delivering double-digit revenue growth and significantly higher profitability in the first quarter compared to Q1 2025, driven by sustained demand for broadband (internet) services and strong gains in operating profit and net earnings, marking the highest operating profit and net earnings in the Group’s history.

Speaking at a media conference held recently, SLT-MOBITEL announced that all group companies delivered broad-based growth, contributing to the SLT Group’s best-ever quarterly performance. While there have been ongoing allegations regarding delays in network expansion and deployment, the company emphasised that necessary measures are being taken to ensure an optimal rollout, while navigating current macroeconomic challenges to support the continued expansion of its 5G network.

Overall, the results reflect strong execution, operational excellence, and sustained customer trust, signalling a clear turnaround with continued momentum expected for the year ahead.

The media conference was attended by Chairman of the SLT Group, Dr. Mothilal de Silva, CEO of SLT-MOBITEL, M. Riyaaz Rasheed, Chief Operating Officer, Imantha Wijekoon, and Chief Financial Officer, Sanjeewa Samaranayake, who highlighted the Group’s exceptional first-quarter performance and outlined its continued focus on driving Sri Lanka’s digital transformation through strategic investment and innovation.

As reflected in the financial results released to CSE recently, the Group recorded a strong start to 2026, with its consolidated revenue rising to LKR 30.8 billion, climbed 10.6% from LKR 27.9 billion in Q1 2025. Gross profit expanded to LKR 14.6 billion, a 14.1% increase year‑on‑year, supported by higher broadband demand. Operating profit surged to LKR 5.1 billion, compared with LKR 3.7 billion in the preceding year, highlighting a 39.1% improvement. Profit before tax climbed to LKR 4.2 billion, up by 55.4% from LKR 2.7 billion in Q1 2025. Profit after tax for the period rose to LKR 3.1 billion, compared with LKR 2 billion last year, a 53.3% increase.

At company level, SLT PLC delivered robust growth. Revenue increased to LKR 19.7 billion, elevated by 10.6% from LKR 17.8 billion in Q1 2025. Gross profit rose to LKR 9.9 billion, a 13.4% increase year‑on‑year. Operating profit improved to LKR 3.5 billion, compared with LKR 2.5 billion in Q1 2025, setting a 36% rise. Profit before tax reached LKR 2.9 billion, rising 51 % from LKR 1.9 billion in Q1 2025. Profit after tax for the quarter was LKR 2.1 billion, compared with last year’s LKR 1.3 billion, a 53.3% increase.

Mobitel posted a 9.9% revenue increase in Q1 2026, adding LKR 1.2 billion compared to the previous year. Growth was fuelled through a 28% rise in broadband revenue, alongside gains in value‑added services, solution revenues and roaming. Subscriber momentum also turned positive during the quarter, continuing from the growth seen last year, reiterating the success of Mobitel’s acquisition and retention strategies.

SLT-MOBITEL marked a major milestone in Sri Lanka’s digital transformation journey by making its 5G network publicly accessible, democratising access to next-generation connectivity and enabling Sri Lankans to experience the transformative power of 5G. This achievement is underpinned by years of strategic investment in network expansion, high-capacity fibre infrastructure, and expanded wireless coverage, reflecting the company’s continued commitment to strengthening the country’s digital foundation and ensuring advanced technologies are accessible to individuals, businesses, and communities across the nation.

Beyond delivering unprecedented speed and ultra-low latency, 5G has the potential to reshape key sectors including education, healthcare, manufacturing, and enterprise innovation, accelerating Sri Lanka’s emergence as a digitally empowered economy. The investments by SLT-MOBITEL are already creating tangible impact, extending beyond urban centres to rural communities through expanded broadband and mobile connectivity, enabling greater access to education, economic opportunity, and digital services, ensuring no Sri Lankan is left behind. By making 5G publicly available at scale, SLT-MOBITEL is reinforcing its role in powering national progress and ensuring Sri Lanka is equipped to compete and thrive in the digital future.