Mauritius Telecom sees net profit dip 22% even as revenues rise 6.1%
Louis Celier, Sarat Lallah and Asraf Dulull (L to R) the CFO, CEO and Chairman of Mauritius Telecom respectively, present the 2013 annual report for the telecommunications major. (Image: Company)
Mauritius Telecom (MT) saw profit after tax dip 22% from Rs 1.8 billion in 2012 to Rs 1.4 billion for the year ended December 2013, even as turnover rose to Rs 8.5 billion, up 6.1% compared to Rs 8 billion realized in the year-ago period.
Accordingly, earnings per share also plunged to Rs 7.56 last year, compared with Rs 9.44 in 2012.
The board of directors unveiled the telecommunication major’s annual report for 2013 on Tuesday, June 10, 2014, at a press conference held at the Telecom Tower, Port Louis.
Besides, the results showed that MT had notched a rise of 3.2% in gross profit to Rs 6.9 billion for the financial year ended 31 December 2013.
By the end of December 2013, the company had acquired around 1.3 million subscribers for its fixed-line, mobile, internet dial-up, broadband and My.T convergent services.
The company declares its financials under two distinct segments – the internet segment and the mobile segment.
The internet segment’s operating income amounted to Rs 951 million, representing an increase of 14.3% compared to 2012. This follows growth in My.T and ADSL subscribers, with 16,827 new broadband subscribers added in 2013 to reach 155,330. It may be noted that My.T is the multiplay-IPTV service offered by Mauritius Telecom.
Besides, the company ended the year at a total fixed line subscriber base of 352,231.
For the mobile segment, revenues totaled Rs 3.6 billion, registering a growth of 0.7% over 2012. Here, the number of customers increased by 29,478 to hit 781,775 at the end of 2013.
“Our performance for 2013 was more than satisfactory thanks to the initiatives and efforts of the company and its employees,” noted Asraf Dullul, Chairman, Mauritius Telecom.
“We succeeded in generating a synergy between our various resources: human, financial and technological. These synergistic efforts have consolidated and strengthened our position as a leader in the telecommunications market. Our disciplined management and innovative approach have also helped cement our position,” he added
“In 2013 MT has invested Rs 2.1 billion in its networks and computer systems and other services,” highlighted Sarat Lallah, CEO of MT.
Sarat Lallah also spoke of the innovations introduced in 2013 such as the launch of fiber offers that allows connectivity to high-speed broadband deployment of 4G in Mauritius and Rodrigues, the launch of the new platform My.T, and makeover of the orange.mu portal whose average monthly visitors have exceeded 312,000.
In addition, MT has completed the enhancement of its satellite bandwidth from 37 Mbps to 155 Mbps between Rodrigues and Mauritius. Also, international bandwidth increased from 15Gbps to 20Gbps in 2012 in 2013.
This year will witness the continued implementation of projects for deployment of fiber in homes with the goal of 65,000 home expected to be crossed in late 2014, extending the deployment of 4G and the project for installation of underwater fiber optic cable between Mauritius and Rodrigues.