August 20, Colombo (LNW): The Ceylon Electricity Board (CEB) has reported a strong financial performance, achieving a net profit after taxes of Rs. 34.53 billion in the April-June quarter of 2024.
This marks a 67.2 per cent increase from the Rs. 20.65 billion profit recorded during the same period in 2023.
The recent profit comes despite the payment of Rs. 34.53 billion in taxes.
Earlier this year, the CEB reported an impressive net profit of Rs. 84.67 billion for the January-March quarter.
Consequently, the total profit for the first half of 2024 stands at Rs. 119.20 billion, reflecting the utility’s sustained financial growth amidst operational challenges.
This substantial improvement in profitability is attributed to enhanced efficiency measures, better management of resources, and strategic adjustments in the energy sector.
The CEB’s financial turnaround demonstrates resilience, especially following a period marked by revenue deficits and increased operational costs in recent years.
Industry analysts suggest that the growth trajectory is likely to continue if current policies are maintained, with potential benefits for both the organisation and its consumers.
