The Ceylon Electricity Board (CEB) recorded an operating loss of Rs. 3 billion in the December 2024 quarter, though it managed to post a marginal net profit due to other income and foreign exchange gains.
According to interim financial reports, CEB’s revenue dropped by 28%, falling to Rs. 111.8 billion from Rs. 156.2 billion in the same quarter of 2023. Meanwhile, cost of sales surged by 49% to Rs. 116.2 billion, resulting in a gross loss of Rs. 4.49 billion, a significant improvement from the Rs. 78 billion loss in 2023.
For the full year 2024, the CEB recorded foreign exchange gains of Rs. 11.7 billion, contributing to a total net profit of Rs. 144 billion. This was further boosted by a Rs. 26 billion capital gain from the sale of shares in LTL Holdings to West Coast Power, which helped in reducing its debt burden.
