DIAL Community

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Re: DIAL Community

Postby PAT » Fri May 12, 2017 5:25 pm

Dialog Axiata PLC (DIAL SL: LKR 12.20)


· Bottom line: Declined 42% YoY to LKR 1.54bn in Q1 FY 17, majorly due to higher depreciation expenses, net finance costs and foreign exchange losses.

· Capital expenditure: Amounted to LKR 4bn (18% of group top line), which was directed mainly towards high speed broadband infrastructure.

· Going forward, the revenues are expected to be driven by data, which has already taken over SMS and IDD revenue, and currently in the process of disrupting voice revenue. We believe that satellite television as well will be affected by data driven services such as Netflix. Therefore, short term impacts on bottom line could be witnessed due to significant capex aimed towards improving the broadband sector for a stronger growth in the long run.

· Sri Lanka reports to be one of the countries with lowest entry level data charges, due to comparatively higher number of players in a relatively smaller market. However, DIAL leads the market in all segments except in fixed telephony where state-owned SLTL is in the lead.

· Finance expenses surge: Rising interest bearing borrowings resulted in net finance expenses surging 175% YoY to LKR 892mn, while the majority of the impact was caused by disadvantageous forex fluctuations on USD denominated loans.

· EBIT: Depreciated 14% YoY to LKR 2.89bn, due to 14% and 17% YoY increases in the distribution and administrative costs respectively. EBIT margin dropped to 13% from 16% in the previous year.

· Top line: Saw a growth of 5% YoY to LKR 22.16bn, where 82% of the total was accounted by mobile operations, which grew at a slower 3% YoY to LKR 18.2bn, despite a 15% YoY growth in the subscriber base (10.6mn to 12.2mn). The resultant lower ARPU was caused by the restrained consumer spending due to increased consumption taxes in the likes of VAT (11% to 15%) and NBT (newly introduced at 2%).

· Fixed telephony and broadband operations reported a top line growth of 34% YoY to LKR 2.4bn, while the contribution to the group top line improved by 200+bps to 11%, while the Television operations, notwithstanding a significant growth of 24% YoY in the subscriber base to 866,000, witnessed a dip of 5% YoY to LKR 1.5bn for Q1 FY 17.

· Profitability margins: ROCE and ROE reported above the previous year’s figures at 14.4% (previously – 12.9%) and 15% (previously – 12.1%) respectively.

· Relative valuation: DIAL trades at a PER of 12.6x on TTM EPS of LKR 0.97, while PBV reports at 1.8x based on the latest NAV per share of LKR 6.83.

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Re: DIAL Community

Postby Blue Whale » Fri May 12, 2017 7:34 pm

PAT impact is mainly due to VAT on revenue. If not for VAT the income for Q1 would be Rs2Bn higher than what was reported according to my estimates.

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Re: DIAL Community

Postby Blue Whale » Tue May 16, 2017 2:35 pm

DIAL just after xd with a considerable decline in PAT for Q1 came back strongly to 12.20 again tody. Huge crossings went @ price levels above 12/-.
Unbelievable stuff here.
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Re: DIAL Community

Postby Contra » Tue May 16, 2017 2:58 pm

It may go to around Rs.14 or above when bull set strongly.
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Re: DIAL Community

Postby Blue Whale » Tue May 16, 2017 9:00 pm

That's good if happen.
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Re: DIAL Community

Postby NC+ » Wed May 24, 2017 2:35 pm

Dialog paves way for 5G with successful MIMO trial

May 24, 2017 (LBO) – Sri Lanka’s Dialog Telecom said they have successfully completed a trial of next-generation, MIMO (Multiple-Input Multiple-Output) Technology.

“In the race to 5G with unprecedented improvements in network throughput and capacity, MIMO is considered the most compelling technology with superior energy and spectral efficiency,” the company said in a statement.

“Dialog recently concluded a trial MIMO deployment that delivered speeds up to 716Mbps over a single 20MHz LTE TDD carrier.”

MIMO Technology offers greater spectrum efficiency with up to six times more capacity from the same spectrum resource. It also uses a higher number of antennas to enhance capacity and transmit parallel data streams to users on the same frequency.

By employing multiple antenna elements per user, MIMO base stations could also carry out ‘beam-forming’, whereby the antenna beam could be focused towards individual users to enhance connectivity and reduce interference.

Dialog Axiata’s Group Chief Executive, Supun Weerasinghe, says the successful pilot of MIMO underscores Dialog’s unremitting commitment to stay abreast of nascent technologies to offer the very best in connectivity to all Sri Lankan
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Re: DIAL Community

Postby SHARK » Thu Jul 13, 2017 3:32 pm

The completion of HPP for Dial is pending .........
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Re: DIAL Community

Postby SHARK » Thu Jul 13, 2017 3:45 pm

I think i owe one for Sash on DIAL as still its pending :(

If remember vaguely target was somewhere 18. o 16.
i drew it same in SLEF in HPP thread...... :D

I think its way off :D so far .....
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Re: DIAL Community

Postby SHARK » Thu Jul 13, 2017 4:00 pm

dial.png


Revisiting DIAL :)
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Re: DIAL Community

Postby ruwa » Tue Aug 01, 2017 8:43 pm

Court rejects SLT application to prevent Dialog’s fibre network expansion

Aug 01, 2017 (LBO) – The District Court of Colombo has refused applications for enjoining orders sought by Sri Lanka Telecom PLC against Dialog Axiata PLC (DAP) to restrain provision of fixed telecommunication services with fibre network expansion.

SLT instituted proceedings against DAP in June to restrain provision of Fixed Telecommunication Services including Gigabit Passive Optical Networks (GPON) Active Solutions operations, lawyers for DAP said.

Whilst SLT sought to obtain ex parte Enjoining Orders, DAP brought to the notice of Court that SLT had erred in instituting proceedings against the wrong party.

A statement from the lawyers added that SLT had misrepresented facts to Court stating that DAP was not entitled to provide or be engaged in GPON Active Solutions operations, when Dialog Broadband Networks (Private) Ltd was entitled to do so.

“Accordingly, the case has no impact whatsoever on the GPON-based Fibre Solutions provided by Dialog Broadband.”

“The action by SLT against DAP to block the lawful provision of GPON Solutions by DBN is monopolistic and anti-competitive, suppressing choice and competition in the provision of the said services.”

Dialog Broadband has over the past years made large scale investments in cutting edge high speed broadband and other digital infrastructures totaling to over USD 425 Million (over LKR 48,000 Billion).

This includes the rapid expansion of its fibre network, connection to the 100G-Plus Bay of Bengal Gateway submarine fibre cable, and the launch of the country’s first-ever Tier-III certified data centre.

Meanwhile, Dialog Broadband has filed action against SLT in the District Court of Colombo to restrain SLT from disrupting, undermining, interfering or obstructing in the supply and installation of GPON-based Active Solutions.

DAP further stated to Court that the SLT’s case is wrongly constituted and premised upon confidential information belonging to Dialog Broadband namely confidential Request for Proposal, which SLT had unlawfully and wrongfully obtained.

The confidential information of Dialog Broadband comprised of comprehensive Network Architecture and Service Delivery Architecture design specifications amongst other confidential information of Dialog Broadband and as such kept secret due to its enormous commercial value.

The Court has ordered SLT to disclose the source or person from whom SLT had acquired the confidential information of Dialog Broadband and to show cause as to why the interim injunction restraining SLT from using the confidential information contained in the Request for Proposals should not be granted.

In the present case, Honourable Amali Ranaweera – Additional District Judge, Colombo, presided.

S.A Parathalingam, President`s Counsel appeared with Chanaka de Silva instructed by G.G Arulpragasam for the Plaintiff, Sri Lanka Telecom PLC.

K. Kanag-Isvaran, President`s Counsel, appeared with Avindra Rodrigo, L. Jeyakumar and Nimesha de Silva for the Defendant, Dialog Axiata PLC.

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Re: DIAL Community

Postby Shadow walker » Wed Aug 09, 2017 9:26 am

Financial statements for quarter ended 30.06.2017


https://cdn.cse.lk/cmt/upload_report_file/389_1502246267491.pdf
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Re: DIAL Community

Postby batman111 » Wed Aug 09, 2017 10:14 am

Better than expected..

considering the new taxes
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Re: DIAL Community

Postby sashimaal » Wed Aug 09, 2017 10:18 am

Yes taxes are the issue. Whenever DIAL starts performing a new tax or charge is put by the Govt

No wonder after 12 years, DIAL share is at the same level it started :-(
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Re: DIAL Community

Postby dhanurrox » Wed Aug 09, 2017 4:01 pm


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Re: DIAL Community

Postby sashimaal » Thu Aug 17, 2017 2:58 pm

Govt to remove the 10% TRC levy on internet from Sept 1
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Re: DIAL Community

Postby SHARK » Thu Aug 17, 2017 3:28 pm

Thanks Sash ....
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Re: DIAL Community

Postby Blue Whale » Thu Aug 17, 2017 3:30 pm

That's good news for both the users as well as the Company.
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Re: DIAL Community

Postby sashimaal » Thu Aug 17, 2017 3:52 pm

@rangaba: Service providers agreed to increase 10% additional data in response to Govt's move

m.twitter.com/rangaba
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Re: DIAL Community

Postby SHARK » Sat Aug 19, 2017 3:09 pm

are getting ready for a telco rally ...... or is it too early.....
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Re: DIAL Community

Postby dhanurrox » Tue Aug 22, 2017 5:01 pm

latest wonder. Tax removed share falls from 11.7 to 11.20.

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Re: DIAL Community

Postby sashimaal » Tue Aug 22, 2017 5:31 pm

What got reduced is a tax that Customers have to pay (not an income based tax).

Apart from that , Network providers had agreed to increase a further 10% data for all packages (as i know).

Usage has to increase at a higher % to see any gains.

As i said earlier, always when Mobile Operators makes higher profits, Govt comes with a new tax or charge.

That is why 12 years after their IPO , DIAL still is at the same level as IPO price levels (RI adjusted)


dhanurrox wrote:latest wonder. Tax removed share falls from 11.7 to 11.20.
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Re: DIAL Community

Postby Blue Whale » Wed Aug 23, 2017 5:43 am

Dialog has tested 5G yesterday successfully.
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Re: DIAL Community

Postby sashimaal » Wed Aug 23, 2017 11:17 am

At the moment it has marketing value only (innovation, first....)

Commercialization will take a couple of years

Blue Whale wrote:Dialog has tested 5G yesterday successfully.
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Re: DIAL Community

Postby Blue Whale » Wed Aug 23, 2017 7:13 pm

Telcos will increase the data bundle by 10% from 1st September. According to internal sources they are confident that users to increase the data usage by more than 10% hence they can register incremental profits from that move. The impact will reflect in the Q4 results of both Dialog as well as SLT.
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Re: DIAL Community

Postby SHARK » Thu Sep 21, 2017 12:10 pm

Getting out of its LT consolidation pattern towards 14Rs....... be mindful guys

13 is ST target. we can see 11-12 mini rectangle formation breakout.

trading at 12.1 now
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