At Company level the loss was Rs. 1 billion in comparison to a profit of Rs. 4.2 billion in 2Q of FY22.

For the first half, Group loss was Rs. 1.16 billion as against a profit of Rs. 4.6 billion. At Company level the loss was Rs. 401 million in comparison to a profit of Rs. 8.3 billion.

In a statement SLT said the 2Q loss was due to cost escalations and impairment of Long-Term Evolution (LTE) assets. SLT PLC staff costs account for 36.8% of Operating Costs.

The statement said while SLT PLC had 2.4% (Rs.400 million) revenue growth, Mobitel recorded 9.3% (Rs.1,066 million) de-growth during Q2 of FY23 compared to Q2 of FY22