Inflation ( CCPI)-0.5% (Sep 2024)
GDP4.7% (2Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.32%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.37%/ 10.45%
4Y T-Bond Rate11.80% / 11.90%
USD/LKR292/293
Reserves $5.99Bn (Sep 2024)
Cum. Trade Deficit $2,550 Mn (June 2024 cumulative)
Cum. Fiscal DeficitLKR 599Bn (June 2024)

CEB is mulling for another tariff hike after it turned to profitable in 2Q 2023

EnergyOct 1, 2023
CEB is mulling for another tariff hike after it turned to profitable in 2Q 2023

The unaudited financials of CEB (Group) indicate an operating profit of LKR 49Bn and LKR 28Bn profit after tax for the 2nd quarter of 2023. The revenue has increased by 118% in 2Q 2023 against the previous quarter and the cost of sale increased only by 53%. In the meantime, CEB has paid LKR 2Bn as income tax in 2Q 2023.

On a cumulative basis, CEB still incurs a loss of LKR 8Bn for the first half of 2023, which is a substantial reduction compared to the loss of LKR 54Bn in 2022. However, CEB has requested a tariff hike to offset the loss.

Disclaimer

Charts represents an assessment of the market environment as of the date indicated and it is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision. This document contains general information only and does not take into account an individual’s financial circumstances. An assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a financial advisor before making an investment decisions.