Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 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.


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