Dialog Axiata dropped to a loss in its full financial 2022 year due to one-off costs and rising operating expenses, despite also seeing growing revenue across its segments.
Dialog Axiata reported revenue increases across all business segments namely mobile, fixed line, digital pay TV, international, digital platforms and tele-infrastructure.
Revenue stood at LKR178.1 billion (US$487 million) for its full 2022 financial year, a growth rate of 26% year-on-year.
Income from its broadband network grew 78% to LKR22.2 billion and international revenue doubled. Its pay-TV segment also increased in sales by 14% to LKR3.5 million.
Net loss was recorded at LKR8.3 billion, overshadowing profit of only LKR4.6 billion. This was due to one-off provisions and impairments costing LKR12.1 billion and increased depreciation costs from high capex.
The company spent LKR52 billion on capex which is up year-on-year by 64%. The company expanded its network with over 450 new sites and upgraded over 2,100 sites, while also deploying alternate energy solutions such as solar and Li-on batteries to improve network availability. EBITDA took a 12% hit to LKR51.6 billion.