Dialog Axiata PLC released its consolidated financial results for the six months ended June 30, 2023, on Thursday.
Financial results included those of Dialog Axiata PLC and of the Dialog Axiata Group.
The Group concluded the 1H 2023 with positive revenue performance being recorded across all business segments, namely, Mobile, Fixed Line, Digital Pay Television, International and Tele-infrastructure to record a consolidated Revenue of Rs 97.7 bn, a growth of 20% Year-to-Date (YTD). However, Revenue declined 5% Quarter-on-Quarter (QoQ) to reach Rs 47.7 bn for Q2 2023 due to drop in non-core revenue resulting from Rupee appreciation against the USD.
Group Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) maintained flattish and marginally declined by 1% YTD to record at Rs 27.2 bn.
The Group Net Profit After Tax continued to benefit from forex gains to record at Rs 11.8 bn for 1H 2023, with a growth exceeding 100% YTD.
At an entity level, Dialog Axiata PLC continued to contribute a major share of Group Revenue (52%) and Group EBITDA (63%). Company revenue was recorded at Rs 50.4 bn for 1H 2023 up 3% YTD resulting from the growth in data segment. Company EBITDA was recorded at Rs 17.2 bn for 1H 2023 down 10% albeit improving on a QoQ basis by 7% to reach Rs 8.8 bn due to traction gained on cost rescaling initiatives. Company NPAT was recorded at Rs 9.6 bn for 1H 2023 and Rs 2 bn for Q2 2023.
Dialog Television (DTV), continued to consolidate its leadership position in the Digital Pay Television space with the subscriber base being maintained at 1.7 mn as of end 1H 2023. DTV Revenue reached Rs 6.1 bn for 1H 2023 recording a growth of 9% while declining 2% QoQ to record at Rs 3 bn.
DTV EBITDA recorded growth of 12% to reach Rs 1.2 bn for 1H 2023 supported by revenue performance and cost rationalisation. Consequently, DTV NPAT was recorded at Rs 685Mn in 1H 2023 also aided by the strengthening the Rupee against the USD.
Dialog Broadband Networks (DBN) featuring the Group’s Fixed Telecommunications, Broadband and International Businesses continued to record strong revenue growth.