Home Sri Lanka CEB records Rs. 3 billion loss in 2024 Q4
Sri Lanka

CEB records Rs. 3 billion loss in 2024 Q4

Share
Share

The state-run Ceylon Electricity Board (CEB) has made an operating loss of Rs. 3 billion in December 2024 quarter, and made a marginal net profit with the help of other income and gains.

According to the interim accounts issued, the CEB’s revenues plunged 28% to Rs. 111.8 billion in the December 2024 quarter, from Rs. 156.2 billion.

The cost of sales grew 49% to Rs. 116.2 billion, leading to a gross loss of Rs. 4.49 billion, down from Rs. 78 billion in 2023.

For the full year the CEB had made Rs. 11.7 billion of foreign exchange gains.

In the year, the CEB posted profits of Rs. 144 billion, helped by forex gains and also a Rs. 26 billion capital gain from the sale of shares of LTL holding to West Coast Power, reducing its debt.

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Sri Lanka

Sri Lanka eyes major trade shift to secure US tariff concessions

The Sri Lankan government is preparing a sweeping package of economic concessions...

Sri Lanka

Court grants SriLankan Airlines temporary relief from liquidation

SriLankan Airlines has been granted a critical legal extension by the Colombo...

Sri Lanka

TN Chief Minister urges Jaishankar to secure release of fishermen from Sri Lankan custody

Tamil Nadu Chief Minister M K Stalin has urged the Union government...

Sri Lanka

Sri Lanka’s 18 pc VAT on digital services angers Trump?

An 18 per cent VAT on non-resident digital services providers, effective from...