Asia Asset Finance PLC (AAF), a leading financial institution and subsidiary of global giant Muthoot, posted outstanding financial results for the first quarter of 2024. The company reported earnings of Rs. 115.7 million, marking a remarkable 109.75% increase compared to Rs. 55.2 million in the same period last year. AAF’s loan portfolio demonstrated strong growth,
Ceylon Electricity Board Reports Rs.34.35 Billion Profit for 2Q24 Amidst Tariff Reductions The state-run Ceylon Electricity Board (CEB) announced a significant profit of Rs.34.35 billion for the quarter ending June 2024, marking a 24.4 percent increase from the same period last year. In the first half of 2024 (1H24), CEB achieved a remarkable turnaround with
Dialog Axiata PLC’s performance for the quarter ending June 2024 was disappointing, with a decline in revenue and increased overhead costs impacting the group’s operating results. The company reported a revenue of Rs. 40.9 billion for the April–June period, marking an 11.7 percent decrease compared to the same quarter last year. The drop in revenue
DFCC Bank has reported a partial sale of its Sri Lankan sovereign bond holdings, resulting in a loss of 2.17 billion rupees. This transaction, however, led to the reversal of 2.45 billion rupees in previously set provisions. The bank’s sovereign bond portfolio was valued at 4.59 billion rupees by the end of December 2023, a
Quarterly Financial Review Tokyo Cement Group reported a turnover of Rs. 11,665 million for the first quarter ended 30 June 2024, marking a 3% decline compared to the same period last year. Profit After Tax (PAT) also fell by 18% to Rs. 707 million. The revenue drop, despite increased sales volume, was attributed to price
Sampath Bank announced a significant financial performance for the first half of 2024, with a 45% increase in profit after tax (PAT) to Rs. 11.1 billion, up from Rs. 7.7 billion in the same period last year. The profit before tax (PBT) also saw a notable rise, reaching Rs. 18.5 billion, a 40% increase compared
Hemas Holdings PLC has reported a consolidated revenue of Rs. 25.5 billion for the first quarter of FY25, ending June 30, 2024. Despite facing a challenging economic environment, the Group achieved operating profits of Rs. 1.9 billion and earnings of Rs. 0.9 billion during this period. The revenue decline compared to the previous year was
East West Properties PLC, under the majority ownership of Nahil Wijesuriya, has announced its intention to delist its shares from the Colombo Stock Exchange (CSE). The decision is pending shareholder and regulatory approvals. In a recent filing with the CSE, the company disclosed that it has arranged for Wijesuriya to buy out shares from investors
Ceylon Cold Stores PLC, a subsidiary of John Keells Holdings, has showcased robust financial performance for the April-June quarter of fiscal year 2025, signaling a resurgence in consumer spending. The company achieved a top line of Rs. 38.1 billion, marking a 10% increase from the same period in 2023. Operating profits surged by 69% to
Overseas Realty (Ceylon) PLC has announced impressive financial results for the six months ending June 30, 2024. The company recorded a Group Revenue of Rs. 3,605 million and a Group Profit Before Tax of Rs. 3,519 million. The appreciation of the Sri Lankan Rupee (LKR) contributed to a net exchange gain of Rs. 1,134 million,