Sri Lanka President Anura Kumara Dissanayake and officials of the Ceylon Electricity Board (CEB) held discussions yesterday regarding a sustainable long-term strategy for Sri Lanka’s Energy sector.
The discussion focused on energy conservation, as well as maintenance of uninterrupted power supply and the future prospects of Sri Lanka’s Energy sector.
Meanwhile, CEB has also reported an operating loss of 3 billion Sri Lankan Rupees in the December 2024 quarter. According to interim financial statements issued by the board, revenue plunged 28 per cent year-on-year to about 112 billion rupees, while, cost of sales surged 49 per cent to 116 billion rupees, resulting in a gross loss of over 4 billion rupees. Notably, CEB had faced losses amounting to 78 billion rupees in the corresponding period in 2023.
Meanwhile, the board managed to end the year with profits of 116 billion rupees mainly due to forex gains and the stake sale of LTL Holdings. CEB emerging from financial struggles reflects broader challenges faced by Sri Lanka’s State-owned enterprises, many of which continue to operate at a loss.
