Page 0
DIALOG AXIATA PLC CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE QUARTER ENDED 30 JUNE 2025Deloitte Partners
100 Braybrooke Place
Colombo 2 Sri Lanka
Tel: +94 11 771 9700,
+94 11 771 9838
Fax: +94 11 230 7237
https://www.deloitte.com
Report on Review of Condensed Consolidated Interim Financial Information To the Board of Directors of Dialog Axiata PLC IntroductionWe have reviewed the accompanying condensed interim statement of financial position of Dialog Axiata PLC
Scope of Review
We conducted our review in accordance with Sri Lanka Standard on Review Engagements [SLSRE] 2410
interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Sri Lanka Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
ConclusionBased on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim financial information is not presented, in all material respects, in accordance with the Sri Lanka Accounting Standard 34 [LKAS34]
CHARTERED ACCOUNTANTS COLOMBO
08 August 2025
C S Manoharan FCA, T U Jayasinghe FCA, M D B Boyagoda FCA, H A C H Gunarathne FCA, M P M T Gunasekara FCA, N R Gunasekera
J Henry FCA, M M R Hilmy FCA, H P V Lakdeva FCA, K M D R P Manatunga ACA, M M M Manzeer FCA, L A C Tillekeratne ACA, D C A J Yapa ACA
FCA, M S
Regd. Office: P.O. Box 918, 100 Braybrooke Place, Colombo 02, Sri Lanka. Reg. No.: w/4179
DIALOG AXIATA PLC
statement of financial position (all amounts in Sri Lanka Rupees thousands) Group CompanyAs at | 30 June | 31 December | 30 June | 31 December |
2025 (Reviewed) | 2024 (Restated) | 2025 (Reviewed) | 2024 (Restated) | |
ASSETS | ||||
Non-current assets Intangible assets | 42,594,884 | 36,994,257 | 35,256,892 | 30,352,752 |
Contract costs assets | 12,564,815 | 12,949,735 | 3,529,798 | 3,807,270 |
Property, plant and equipment | 144,523,123 | 157,185,633 | 109,457,373 | 120,903,499 |
Right-of-use assets | 9,333,789 | 10,861,923 | 9,140,021 | 10,662,694 |
Deferred tax asset | 214,693 | 248,673 | - | - |
Investment in subsidiaries | - | - | 40,675,068 | 40,675,068 |
Investment in associates | - | - | - | - |
Other financial assets | 3,202,878 | 4,015,608 | - | - |
212,434,182 | 222,255,829 | 198,059,152 | 206,401,283 | |
Current assets | ||||
Inventories | 1,839,123 | 1,773,019 | 219,769 | 234,178 |
Trade and other receivables | 44,051,611 | 47,411,228 | 30,151,858 | 34,582,085 |
Other financial assets | 5,887,005 | 3,921,664 | 52,047 | - |
Cash and cash equivalents | 38,221,162 | 33,785,614 | 31,053,436 | 27,776,009 |
89,998,901 | 86,891,525 | 61,477,110 | 62,592,272 | |
Total assets | 302,433,083 | 309,147,354 | 259,536,262 | 268,993,555 |
EQUITY | ||||
Capital and reserves attributable to equity holders Stated capital | 39,905,563 | 39,905,563 | 39,905,563 | 39,905,563 |
Reserves | 38,424,621 | 38,448,023 | 25,518,819 | 27,843,679 |
Non-controlling interest | (96,688) | (73,623) | - | - |
Total equity | 78,233,496 | 78,279,963 | 65,424,382 | 67,749,242 |
LIABILITIES | ||||
Non-current liabilities | ||||
Borrowings | 25,268,148 | 35,749,593 | 22,855,031 | 31,956,538 |
Contract liabilities | 4,964,747 | 5,745,507 | 3,914,519 | 4,731,780 |
Deferred income | 277,098 | 325,330 | 277,098 | 325,330 |
Lease liabilities | 8,673,201 | 10,834,404 | 8,460,835 | 10,614,105 |
Other financial liabilities | 289,341 | 125,381 | - | - |
Employee benefit payables | 2,314,379 | 2,310,004 | 1,690,601 | 1,655,831 |
Provision for other liabilities | 4,914,491 | 4,503,584 | 4,507,783 | 4,129,542 |
Deferred tax liability | 2,398,828 | 1,157,608 | 850,000 | - |
49,100,233 | 60,751,411 | 42,555,867 | 53,413,126 | |
Current liabilities | ||||
Trade and other payables | 72,947,107 | 78,645,760 | 70,451,944 | 71,824,754 |
Borrowings | 84,127,309 | 71,944,041 | 67,731,109 | 61,317,309 |
Other financial liabilities | 2,860,230 | 3,144,356 | - | 4,396 |
Lease liabilities | 2,368,355 | 1,685,480 | 2,344,950 | 1,659,529 |
Contract liabilities | 11,441,994 | 13,447,548 | 9,686,742 | 11,806,658 |
Current income tax liabilities | 1,354,359 | 1,248,795 | 1,341,268 | 1,218,541 |
175,099,354 | 170,115,980 | 151,556,013 | 147,831,187 | |
Total liabilities | 224,199,587 | 230,867,391 | 194,111,880 | 201,244,313 |
Total equity and liabilities | 302,433,083 | 309,147,354 | 259,536,262 | 268,993,555 |
Net assets per share (Rs.) | 8.50 | 8.51 | 7.11 | 7.36 |
The notes on pages 8 to 14 form an integral part of these financial statements.
I certify that these financial statements have been prepared in compliance with the requirements of the Companies Act, No. 07 of 2007.
Munesh David
Group Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these financial statements.
David Nai Pek Lau
Chairman
Supun WeerasingheDirector
Date: 08 August 2025
Statement of comprehensive income (all amounts in Sri Lanka Rupees thousands) Group CompanyFor the six months ended 30 June | 2025 (Reviewed) | 2024 (Reviewed) | 2025 (Reviewed) | 2024 (Reviewed) |
Revenue | 87,419,671 | 82,542,654 | 65,974,666 | 51,626,029 |
Direct costs | (42,136,959) | (51,692,926) | (30,721,815) | (28,538,176) |
Gross profit | 45,282,712 | 30,849,728 | 35,252,851 | 23,087,853 |
Distribution costs | (10,415,290) | (9,910,499) | (9,019,791) | (8,284,383) |
Administrative costs | (16,941,811) | (15,526,124) | (12,393,035) | (11,926,133) |
Net impairment losses on financial assets | (1,361,024) | (464,029) | (717,712) | (204,174) |
Other income | 541,433 | 133,345 | 555,695 | 51,461 |
Operating profit | 17,106,020 | 5,082,421 | 13,678,008 | 2,724,624 |
Finance income | 555,146 | 773,437 | 520,667 | 879,172 |
Finance costs | (4,936,110) | (5,982,668) | (4,242,465) | (5,415,283) |
Net foreign exchange (loss)/gain | (645,617) | 2,960,466 | (808,632) | 2,694,188 |
Finance (costs) / income - net | (5,026,581) | (2,248,765) | (4,530,430) | (1,841,923) |
Share of loss from associates - net of tax | (47,115) | (34,585) | - | - |
Profit before income tax | 12,032,324 | 2,799,071 | 9,147,578 | 882,701 |
Income tax expense | (2,839,682) | (1,615,784) | (2,272,103) | (1,253,518) |
Profit / (loss) for the period | 9,192,642 | 1,183,287 | 6,875,475 | (370,817) |
Other comprehensive income | (30,036) | - | - | - |
Total comprehensive income for the period | 9,162,606 | 1,183,287 | 6,875,475 | (370,817) |
Profit / (loss) for the period attributable to: - owners of the Company | 9,197,488 | 1,195,115 | 6,875,475 | (370,817) |
- non-controlling interest | (4,846) | (11,828) | - | - |
Total comprehensive income for the period attributable to: - owners of the Company | 9,169,071 | 1,195,115 | 6,875,475 | (370,817) |
- non-controlling interest | (6,465) | (11,828) | - | - |
Earnings / (loss) per share - Basic | 1.00 | 0.14 | 0.75 | (0.04) |
- Diluted | 1.00 | 0.14 | 0.75 | (0.04) |
Dividend per share | 1.00 | 1.34 | 1.00 | 1.34 |
The notes on pages 8 to 14 form an integral part of these financial statements.
Statement of comprehensive income (all amounts in Sri Lanka Rupees thousands) Group CompanyFor the quarter ended 30 June | 2025 (Reviewed) | 2024 (Reviewed) | 2025 (Reviewed) | 2024 (Reviewed) |
Revenue | 44,125,720 | 40,982,512 | 33,720,704 | 25,998,130 |
Direct costs | (20,720,167) | (25,188,472) | (15,378,787) | (14,084,735) |
Gross profit | 23,405,553 | 15,794,040 | 18,341,917 | 11,913,395 |
Distribution costs | (5,354,088) | (4,850,937) | (4,657,221) | (4,069,953) |
Administrative costs | (8,688,801) | (8,088,358) | (6,253,766) | (6,323,044) |
Net impairment losses on financial assets | (825,417) | (550,451) | (432,127) | (242,000) |
Other income | 391,417 | 56,410 | 441,505 | 23,092 |
Operating profit | 8,928,664 | 2,360,704 | 7,440,308 | 1,301,490 |
Finance income | 298,244 | 412,757 | 280,562 | 464,096 |
Finance costs | (2,417,132) | (2,624,204) | (2,046,301) | (2,349,669) |
Net foreign exchange (loss)/gain | (398,275) | (763,915) | (457,075) | (763,319) |
Finance (costs) - net | (2,517,163) | (2,975,362) | (2,222,814) | (2,648,892) |
Share of loss from associates - net of tax | - | (15,402) | - | - |
Profit / (loss) before income tax | 6,411,501 | (630,060) | 5,217,494 | (1,347,402) |
Income tax expense | (1,347,913) | (951,686) | (1,205,948) | (631,358) |
Profit / (loss) for the period | 5,063,588 | (1,581,746) | 4,011,546 | (1,978,760) |
Other comprehensive income | (30,036) | - | - | - |
Total comprehensive income for the period | 5,033,552 | (1,581,746) | 4,011,546 | (1,978,760) |
Profit / (loss) for the period attributable to: | ||||
- owners of the Company | 5,066,275 | (1,574,377) | 4,011,546 | (1,978,760) |
- non-controlling interest | (2,687) | (7,369) | - | - |
Total comprehensive income for the period attributable to: | ||||
- owners of the Company | 5,037,858 | (1,574,377) | 4,011,546 | (1,978,760) |
- non-controlling interest | (4,306) | (7,369) | - | - |
Earnings / (loss) per share | ||||
- basic | 0.55 | (0.19) | 0.44 | (0.24) |
- diluted | 0.55 | (0.19) | 0.44 | (0.24) |
Dividend per share | 1.00 | 1.34 | 1.00 | 1.34 |
The notes on pages 8 to 14 form an integral part of these financial statements.
Consolidated statement of changes in equity (all amounts in Sri Lanka Rupees thousands) Attributable to owners of theParent
Stated capital | Reserves | Non-controlling interest | Total | |
Balance at 1 January 2025 | 39,905,563 | 38,448,023 | (73,623) | 78,279,963 |
Profit / (loss) for the period | - | 9,197,488 | (4,846) | 9,192,642 |
Other comprehensive income | - | (28,417) | (1,619) | (30,036) |
Total comprehensive income for the period | - | 9,169,071 | (6,465) | 9,162,606 |
Transaction with non-controlling interest | - | 7,862 | (16,600) | (8,738) |
Dividend to shareholders | - | (9,200,335) | - | (9,200,335) |
Balance at 30 June 2025 | 39,905,563 | 38,424,621 | (96,688) | 78,233,496 |
Balance at 1 January 2024 | 29,349,706 | 37,031,245 | (44,189) | 66,336,762 |
Profit / (loss) for the period | - | 1,195,115 | (11,828) | 1,183,287 |
Other comprehensive income | - | - | - | - |
Total comprehensive income for the period | - | 1,195,115 | (11,828) | 1,183,287 |
Transactions with non-controlling interest | - | 682 | (590) | 92 |
Dividend to shareholders | - | (11,051,838) | - | (11,051,838) |
Issue of shares | 10,555,857 | - | - | 10,555,857 |
Balance at 30 June 2024 | 39,905,563 | 27,175,204 | (56,607) | 67,024,160 |
Balance at 01 July 2024 | 39,905,563 | 27,175,204 | (56,607) | 67,024,160 |
Profit / (loss) for the period | - | 11,263,466 | (11,885) | 11,251,581 |
Other comprehensive income | - | 5,558 | (1,337) | 4,221 |
Total comprehensive income for the period | - | 11,269,024 | (13,222) | 11,255,802 |
Transactions with non-controlling interest | - | 3,795 | (3,794) | 1 |
Balance at 31 December 2024 | 39,905,563 | 38,448,023 | (73,623) | 78,279,963 |
The notes on pages 8 to 14 form an integral part of these financial statements.
Company statement of changes in equity (all amounts in Sri Lanka Rupees thousands)Stated capital | Reserves | Total | |
Balance at 1 January 2025 | 39,905,563 | 27,843,679 | 67,749,242 |
Profit for the period | - | 6,875,475 | 6,875,475 |
Other comprehensive income | - | - | - |
Total comprehensive income for the period | - | 6,875,475 | 6,875,475 |
Dividend to shareholders | - | (9,200,335) | (9,200,335) |
Balance at 30 June 2025 | 39,905,563 | 25,518,819 | 65,424,382 |
Balance at 1 January 2024 | 29,349,706 | 27,749,456 | 57,099,162 |
Loss for the period | - | (370,817) | (370,817) |
Other comprehensive income | - | - | - |
Total comprehensive income for the period | - | (370,817) | (370,817) |
Dividend to shareholders | - | (11,051,838) | (11,051,838) |
Issue of shares | 10,555,857 | - | 10,555,857 |
Balance at 30 June 2024 | 39,905,563 | 16,326,801 | 56,232,364 |
Balance at 01 July 2024 | 39,905,563 | 16,326,801 | 56,232,364 |
Profit for the period | - | 11,463,364 | 11,463,364 |
Other comprehensive income | - | 53,514 | 53,514 |
Total comprehensive income for the period | - | 11,516,878 | 11,516,878 |
Balance at 31 December 2024 | 39,905,563 | 27,843,679 | 67,749,242 |
The notes on pages 8 to 14 form an integral part of these financial statements.
Statement of cash flows (all amounts in Sri Lanka Rupees thousands) For the six months ended 30 June Group Company2025 2024 2025 (Reviewed) (Reviewed) (Reviewed) | 2024 (Reviewed) | |||
Cash flows from operating activities | ||||
Cash generated from operations | 43,009,965 | 25,698,579 | 40,618,392 | 25,575,928 |
Interest received | 499,100 | 799,518 | 361,877 | 624,393 |
Interest paid | (4,718,153) | (5,192,950) | (3,869,738) | (4,528,612) |
Income taxes paid | (1,357,742) | (1,360,416) | (1,209,392) | (1,360,416) |
Employee benefits obligations paid | (223,415) | (152,910) | (181,329) | (70,538) |
Net cash inflow from operating activities | 37,209,755 | 19,791,821 | 35,719,810 | 20,240,755 |
Cash flows from investing activities | ||||
Purchase of property, plant and equipment | (11,609,211) | (9,570,341) | (8,425,302) | (5,740,410) |
Purchase of intangible assets | (2,832,532) | (2,961,776) | (1,753,893) | (2,941,256) |
Proceeds from sales of other financial assets | 100,000 | - | - | - |
Net cash outflow from investing activities | (14,341,743) | (12,532,117) | (10,179,195) | (8,681,666) |
Cash flows from financing activities | ||||
Repayment of borrowings | (26,607,902) | (12,287,366) | (24,028,969) | (10,895,193) |
Proceeds from borrowings | 25,661,200 | 24,398,434 | 22,850,000 | 17,984,000 |
Principal element of lease payment | (2,011,577) | (1,309,427) | (1,943,064) | (1,244,963) |
Dividends paid to ordinary shareholders | (17,784,656) | - | (17,784,656) | - |
Proceeds from share issue - non controlling interest | - | 15,093 | - | - |
Redemption of preference shares from non-controlling interests | (8,738) | (34,000) | - | - |
Net cash (outflow) / inflow from financing activities | (20,751,673) | 10,782,734 | (20,906,689) | 5,843,844 |
Net increase in cash and cash equivalents | 2,116,339 | 18,042,438 | 4,633,926 | 17,402,933 |
Movement in cash and cash equivalents | ||||
At beginning of the period | 11,503,551 | 7,863,324 | 6,832,631 | (90,479) |
Net increase in cash and cash equivalents | 2,116,339 | 18,042,438 | 4,633,926 | 17,402,933 |
Effect of exchange rate changes | 767,668 | (567,899) | 713,899 | (549,706) |
At end of the period | 14,387,558 | 25,337,863 | 12,180,456 | 16,762,748 |
As at 30 June | 2025 | 2024 | 2025 | 2024 |
Cash in hand and at bank | 38,221,162 | 52,804,841 | 31,053,436 | 42,654,949 |
Bank overdrafts | (23,833,604) | (27,466,978) | (18,872,980) | (25,892,201) |
At end of the period | 14,387,558 | 25,337,863 | 12,180,456 | 16,762,748 |
-
General information
broadband, international gateway services), telecommunication infrastructure services (tower infrastructure and transmission services), media (digital television services based on multiple media - satellite, cable, terrestrial), digital services including but not limited to digital commerce (mobile and eCommerce), electronic payments (including mobile payment), digital health, education, navigation and enterprise services and financial services, software solutions, data center services, manpower services, provision of Information Technology and venture capital investment activities.
Dialog Axiata PLC is a public limited liability company incorporated and domiciled in Sri Lanka and is listed on the Colombo Stock Exchange since 28 July 2005. The registered office of the Company is located at 475, Union Place, Colombo 2.
-
Basis of preparation
The condensed interim financial statements for the period ended 30 June 2025 of the Company and the Group have been
consolidated interim financial statements should be read in conjunction with the audited financial statements for the year ended 31 December 2024.
- Segment information
Operating segments are presented in a manner consistent with the internal reporting provided to chief operating decision makers.
Mobile operation Fixed telephony and broadband operation Television operation Elimination /Adjustment Group
Total segmental revenue | 71,081,005 | 17,392,681 | 6,391,941 | - | 94,865,627 |
Inter-segment revenue | (4,155,497) | (3,262,913) | (27,546) | - | (7,445,956) |
Revenue from external customers | 66,925,508 | 14,129,768 | 6,364,395 | - | 87,419,671 |
Segment operating profit / (loss) for the period | 13,779,473 | 3,691,618 | (356,581) | (8,490) | 17,106,020 |
Finance cost net | (5,026,581) | ||||
Share of loss from associate - net of tax | (47,115) | ||||
Profit before income tax | 12,032,324 | ||||
Income tax expense | (2,839,682) | ||||
Profit for the period | 9,192,642 | ||||
Mobile operation Fixed telephony and broadband Operation Television operation Elimination /Adjustment Group
Depreciation, amortization
and impairment 16,377,952 5,942,662 1,576,374 - 23,896,988
3 Segment information (Continued)Mobile operation | Fixed telephony and broadband operation | Television operation | Elimination /adjustment | Group | |
Assets | 277,989,668 | 75,031,526 | 12,349,237 | (38,643,138) | 326,727,293 |
Inter-segment assets | (4,162,990) | (17,019,411) | (3,111,809) | - | (24,294,210) |
Total assets | 273,826,678 | 58,012,115 | 9,237,428 | (38,643,138) | 302,433,083 |
Liabilities | 207,591,512 | 25,771,406 | 15,676,460 | - | 249,039,378 |
Inter-segment liabilities | (20,293,821) | (832,030) | (3,713,940) | - | (24,839,791) |
Total liabilities | 187,297,691 | 24,939,376 | 11,962,520 | - | 224,199,587 |
Capital expenditure | 6,894,011 | 4,063,001 | 25,162 | - | 10,982,174 |
Mobile operation Fixed telephony and broadband Operation Television operation Elimination /adjustment Group
57,266,960 | 28,110,836 | 6,107,408 | - | 91,485,204 |
(5,643,805) | (3,285,238) | (13,507) | - | (8,942,550) |
51,623,155 | 24,825,598 | 6,093,901 | - | 82,542,654 |
Total segmental revenue Inter-segment revenue
Revenue from external customersSegment operating profit / | |||||
(loss) for the period | 3,080,680 | 2,419,395 | (609,346) | 191,692 | 5,082,421 |
Finance costs net | (2,248,765) | ||||
Share of loss from associates - net of tax | (34,585) | ||||
Profit before income tax | 2,799,071 | ||||
Income tax expense | (1,615,784) | ||||
Profit for the period | 1,183,287 | ||||
Fixed telephony Mobile operation and broadband Operation Television operation Elimination /adjustment Group
Depreciation, amortization and impairment
14,955,013 5,586,190 1,563,748 - 22,104,951
Notes to the condensed consolidated interim financial statements (Continued)-
Segment information (Continued)
The segment assets and liabilities at 30 June 2024 and capital expenditure for the period then ended are as follows:
Mobile operation Fixed telephony and broadband Operation Television operation Elimination /adjustment GroupAssets 296,264,392 64,958,151 12,384,780 (33,332,628) 340,274,695
Inter-segment assets (3,233,653) (4,077,794) (12,531) - (7,323,978)
Total assets 293,030,739 60,880,357 12,372,249 (33,332,628) 332,950,717Liabilities 240,092,244 18,945,878 14,805,556 - 273,843,678
Inter-segment liabilities (6,492,277) (428,461) (996,383) - (7,917,121)
Total liabilities 233,599,967 18,517,417 13,809,173 - 265,926,557Capital expenditure 7,966,363 3,797,980 17,237 - 11,781,580
-
Reserves
Group Company
30 June
31 December
30 June
31 December
As at
2025
2024
2025
2024
Attributable to the owners of the Company
Retained earnings
Fair value through other comprehensive
38,220,814
203,807
38,214,180
233,843
25,518,819
-
27,843,679
-
Attributable to the non-controlling interest
Non-controlling interest (96,688) (73,623) - -
38,327,933 38,374,400 25,518,819 27,843,679
-
Seasonal or cyclical factors
The operations of the Group were not significantly affected by any seasonal or cyclical factors.
-
Estimates
The preparation of condensed consolidated interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates.
There were no changes in estimates and assumptions used in prior financial periods that may have a material effect in the current quarter and for the financial period to date.
In preparing the condensed consolidated interim financial statements, the significant judgments made by the management in
statements for the year ended 31 December 2024.
- Stated capital
Stated capital of the Company consists of 9,200,334,994 ordinary shares as at 30 June 2025 (31 December 2024 -9,200,334,994)
08 Market price per share For the three months ended 30 June 2025 2024Rs. Rs.
- Highest | 19.30 | 12.20 | ||
- Lowest | 13.00 | 9.70 | ||
- Last traded | 19.10 | 9.80 | ||
09 |
The details of shares held directly by the Directors and their spouses as at 30 June 2025 are as follows:
Numberof shares
Mr. Supun Weerasinghe 4,260,200
None of the Directors and their spouses other than those disclosed above directly held any shares in the Company.
-
Twenty largest shareholders of the Company
Name of Shareholders No. of shares % Holding
1 Axiata Investments (Labuan) Limited
6,785,252,765
73.75
2 Bharti Airtel Limited
952,694,689
10.36
3 Employees Provident Fund
237,424,082
2.58
4 Citibank Hong Kong S/A Hostplus Pooled Superannuation Trust
182,574,513
1.98
5 SSBT-Sunsuper PTY. LTD. as Trustee for Sunsuper Superannuation Fund
141,394,822
1.54
6 BBH Luxfidelity Funds-Pacific Fund
128,421,604
1.40
7 J.B. Cocoshell (Private) Limited
71,664,360
0.78
8 Citibank Newyork S/A Norges Bank Account 2
58,329,687
0.63
9 BBH-Fidelity Funds
53,560,648
0.58
10 Northern Trust Company S/A Hosking Global Fund PLC
49,730,761
0.54
11 JPMCB NA-Fidelity Asian Values PLC
38,530,079
0.42
12 JPMCB NA-Government Institutions Pension Fund
32,385,589
0.35
13 Employees Trust Fund Board
27,808,352
0.30
14 CACEIS Bank, Luxembourg Branch-NEF
26,206,391
0.28
15 Mr.J.J. Hosking
18,000,000
0.20
16 Deutsche Bank Ag as Trustee for JB Vantage Value Equity Fund
16,784,728
0.18
17 Deutsche Bank Ag Trustee to Lynear Wealth Dynamic Opportunities Fund
12,608,618
0.14
18 Union Assurance PLC-Universal Life Fund
12,315,097
0.13
19 GF Capital Global Limited
10,887,960
0.12
20 Invenco Capital Private Limited
10,411,083
0.11
-
Public shareholdings
Information pertaining to public shareholding is as follows:
30 June 2025 31 Dec 2024
Public holding percentage
15.85%
15.82%
Number of public shareholders
23,303
23,895
Float adjusted market capitalisation (Rs.)
27,850,232,194
17,031,905,631
The Company is compliant with the Minimum Public Holding requirement under Option 1 of Rule 7.13.1 i(a) of the Listing Rules of the Colombo Stock Exchange.
-
Effect of changes in composition of the Group
Dialog Axiata Digital Innovation Fund (Private) Limited
HLredeemed 105,845 of its preference shares in respect of Fund 1 on 16 May 2025, out of which 97,107 shares were redeemed from the preference shares held by DHL, while the remaining were redeemed from individual shareholders.
Further, on 29 May 2025, DADIF issued 4,428 Preference Shares in respect of Fund 2 in DADIF to DHL. These share issues have not changed the composition of the Group.
-
Financial instruments measured at fair value
Measurement criteria and the fair value
Note
Level 1
Rs.000
Level 3
Rs.000
Total
Rs.000
30 Jun 31 Dec
30 Jun
31 Dec
30 Jun
31 Dec
Financial assets
2025 2024
2025
2024
2025
2024
Financial assets at fair value through profit
or loss (FVTPL)
- Investment in quoted equities
(a)
3,493
3,226
-
-
3,493
3,226
- Investment in unquoted equities
(a)
-
-
455,735
753,763
455,735
753,763
Financial assets at fair value through other
comprehensive income (FVOCI)
- Investment in unquoted equities
(b)
-
-
607,422
637,458
607,422
637,458
The Group measures the financial instruments based on published price quotations (Level 1), market approach valuation technique (Level 2) with inputs of valuation technique such as interest rates and yield curves observable at commonly quoted intervals; implied volatilities; and credit spreads that are observable directly or indirectly and valuation technique with unobservable inputs (Level 3) at the end of the financial reporting period.
Carrying value of financial assets at FVTPL at the end of the financial reporting period represents the investments in quoted equity investments by Dialog Finance PLC and investment in unquoted equity investments by Dialog Axiata Digital Innovation Fund (Private) Limited.
Carrying value of financial assets at FVOCI represents the fair value of the investment in shares in the Credit Information Bureau of Sri Lanka by Dialog Finance PLC and investment in unquoted equity investments by Dialog Axiata Digital Innovation Fund (Private) Limited.
-
Cash and cash equivalents
Cash and cash equivalents of the Group also include restricted cash deposited in the following financial institutions:
For the period ended 30 June 31 December2025 2024
Hatton National Bank PLC, amount deposited in custodian accounts to facilitate Ez
cash operation 800,000 805,107
800,000 805,107
-
Revenue from contracts with customers
Group Company
For the period ended 30 June 2025 2024 2025 2024
Mobile operation 66,925,508 51,623,155 65,974,666 51,626,029
Fixed telephony and broadband operation 14,129,768 24,825,598 - -Television operation 6,364,395 6,093,901 - -
87,419,671
82,542,654
65,974,666 51,626,029
Group
Company
Timing of revenue recognition
2025
2024
2025 2024
At a point in time
2,282,085
1,037,838
22,346 43,366
Over time 85,137,586 81,504,816 65,952,320 51,582,663
87,419,671 82,542,654 65,974,666 51,626,029 -
Valuation of property, plant and equipment
The Company and the Group do not adopt a revaluation policy on its property, plant and equipment.
-
Comparative Information
a) Business Combination
Acquisition and merger of Bharti Airtel Lanka (Private) Limited
liabilities assumed was based on provisional values in accordance with SLFRS 3
Business Combinations, pending finalization of the Purchase Price Allocation (PPA).During the current year, the Group finalized the fair value assessment of the acquired assets and liabilities within the measurement period permitted under SLFRS 3. As a result, adjustments have been made retrospectively to the provisional amounts recognized at the acquisition date.
Assets and Liabilities
Provisional Amount
Adjustment
Final Amount
Property, plant and equipment
8,237,815
(934,374)
7,303,441
Identifiable intangible assets
2,550,000
-
2,550,000
Right of use assets
3,019,497
-
3,019,497
Other current assets
2,500,873
-
2,500,873
Borrowings
(8,944,053)
-
(8,944,053)
Trade payable and other financial liabilities
(10,851,599)
-
(10,851,599)
Goodwill
14,043,324
934,374
14,977,698
Total consideration
10,555,857
-
10,555,857
Satisfied by:
Equity instruments
10,555,857
-
10,555,857
Total consideration transferred
10,555,857
-
10,555,857
-
Donations
The total donations made by the Company and its subsidiaries during the period ended 30 June 2025 amounted to Rs. 12.89 million (2024 - Rs.8.11 million).
For the period ended 30 June Group Company 2025 2024 2025 2024Jaffna Speech Therapy Center - Nuffield School 1,188,528 1,782,792 1,188,528 1,782,792
Nenasa & SMART School 5,534,717 2,953,647 5,534,717 2,953,647
Others 6,163,155 3,376,592 6,163,155 3,376,592
12,886,400 8,113,031 12,886,400 8,113,031 -
Contingent liabilities
eligibility of these items falling under the duty exemptions granted under the terms and conditions of the agreement with the Board of Investment of Sri Lanka. The shipment was cleared by DBN upon submitting bank guarantees and thereafter subsequent shipments of CPE were cleared by paying duty 'Under Protest'. SLC commenced an inquiry into this matter on 30 January 2009 which was temporarily suspended upon a proposed settlement by the Secretary to the Treasury in May 2010. However, SLC took steps to continue with the inquiry. Inquiry was held on several dates and the last date being 9 September 2016, however the inquiry was not concluded on this
feiture of Rs. 1,626,622,200. DBN has instituted legal action challenging the order made by SLC in the Court of Appeal under Case No: CA (Writ) 166/2018. The matter was supported on 28 November 2018 and notices were issued on the respondents.
Thereafter, SLC filed objections on 15 February 2019 as directed by the Courts. The case was fixed for argument on several dates. The matter has been refixed for argument on 17 December 2025.
Except for the disclosed above there has not been a significant change in the nature of the contingent liabilities, which were disclosed in the audited financial statements for the year ended 31 December 2024.
-
Capital commitments
Capital expenditure contracted for as at the statement of financial position date but not yet incurred consists of Rs 8,265 million (31.12.2024 - Rs. 7,340million) and Rs. 6,006 million (31.12.2024 - Rs. 5,637million) of the Group and the Company respectively.
- Events after the reporting period
No circumstances have arisen since the statement of financial position date which require adjustments to, or disclosure in the financial statements.