Sri Lanka-based Dialog Axiata benefitted from demand for data and rising ARPU, but one-off charges and growing operating costs pushed the company into the red in Q4 2022.

In its earnings release, the operator highlighted a positive revenue performance across all business segments.

Sales increased 37 per cent year-on-year to LKR50.9 billion ($139.3 billion), driven by 13 per cent growth in mobile revenue to LKR26.5 billion, with ARPU rising 9.6 per cent to LKR398.

Prepaid subscribers fell 2 per cent to 15.8 million, while post-paid was flat at 1.5 million.

Revenue from its broadband networks unit rose 78 per cent to LKR22.2 billion, with international turnover doubling.

Pay-TV sales increased 14 per cent to LKR3.5 million.

The company recorded a net loss of LKR8.3 billion versus a profit of LKR4.6 billion in the same period in 2021, due to one-off provisions and impairments of LKR12.1 billion, and increased depreciation costs stemming from higher capex.

Capex increased 64.2 per cent to LKR52 billion in 2022. It added about 450 new sites and boosted capacity to more than 2,100, with LTE coverage reaching 95 per cent of the population.