Business
JXG delivers LKR 3.2 Bn PAT, driven by 19% revenue growth in 9M FY26
JXG (Janashakthi Group) reported a solid performance for the nine months ended 31 December 2025 (Q3 FY26), with consolidated Group net profit after tax rising to LKR 3.2 billion, surpassing the LKR 2.9 billion recorded in the corresponding period last year. Group revenue grew 19.2% year-on-year to LKR 21.9 billion, while total assets stood at LKR 163 billion, reflecting sustained balance sheet strength and disciplined growth.
Commenting on the Group’s performance, Chandan de Silva, Group Chairman of JXG (Janashakthi Group), said: “The Group’s performance over the first nine months of FY26 reflects the strength of our portfolio approach and the clarity with which we continue to build Janashakthi as an integrated financial services group. Our focus has been on creating scalable platforms, strengthening governance and ensuring that each business is well-positioned to capture opportunities across market cycles. The consistency we are seeing across the Group underscores the resilience of our strategy and confidence as we move into the final quarter of the financial year.”
Revenue contributions for the year-to-date period were driven by First Capital Holdings (LKR 11.4 billion), Janashakthi Insurance (LKR 6.1 billion) and Janashakthi Finance (LKR 4.4 billion), highlighting the breadth of revenue generation across the Group’s core financial services businesses.
Ramesh Schaffter, Managing Director / Group CEO of JXG (Janashakthi Group), commented: “We are pleased to begin the new calendar year by reporting a strong performance for the Group for the nine months ended, reflecting positive momentum across the last three quarters. This performance positions us firmly as an emerging financial services group and stands as proof to disciplined strategy execution and the robust contributions of our subsidiaries during the period. As we move into the final quarter of the financial year, we do so with confidence, building on a strong foundation and readiness to embrace the next phase of growth.”
Subsidiary performance
First Capital Holdings PLC recorded a Total Comprehensive Income of LKR 3.2 billion, compared to LKR 4.5 billion in the corresponding period last year. The performance reflects mark-to-market gains that were moderate during the period under review compared to previous quarters and periods. While the primary dealing and corporate dealing securities divisions reported a combined PAT of LKR 3.6 Bn, the stockbroking division recorded a Profit After Tax of LKR 166 million for the nine months ended 31 December 2025, up from LKR 39 million in the corresponding period last year.
Janashakthi Insurance PLC, which reports on a December financial year-end, closed the year with a PAT of LKR 3.4 billion. Gross Written Premiums increased 31% year-on-year to LKR8.7 billion, up from LKR 6.6 billion in the corresponding period. The New Business Premium growth of 67% affirms the continued momentum in core insurance operations.
Janashakthi Finance PLC recorded an PAT of LKR 240 million, with Net Operating Income rising 35% year-on-year to LKR 2.2 billion.
Business
ADB-funded Thalaiyadi plant serves as blueprint for vulnerable dry zones in Sri Lanka
Sri Lanka should adopt a diversified water-security strategy, says chief engineer
By Sanath Nanayakkare
For generations, the Jaffna Peninsula has relied almost entirely on an underground freshwater lens. With no major perennial rivers to lean on, the region has long walked a tightrope between water scarcity, seasonal droughts, and a creeping groundwater salinity that has challenged communities across the North. Today, however, a monumental shift is underway along the windswept Vadamaradchi coast.
To understand how Sri Lanka is rewriting its water security playbook, one need only look to the Thalaiyadi Seawater Reverse Osmosis (SWRO) Plant.
V. Vijayakanth, Chief Engineer of the Jaffna Kilinochchi Water Supply and Sanitation Project (JKWSSP), recently explained the engineering marvels, environmental safeguards, and long-term vision driving this landmark infrastructure project.
“Building a multi-million-gallon desalination plant on an open, deep-sea coastline facing the Indian Ocean was no small feat,” he said.
Vijayakanth noted that the project required extensive marine, geotechnical, and ecological investigations before a single pipe was laid.
“The scale of the marine installation was striking: an intake and outfall system featuring roughly 1,300 metres of large-diameter pipeline, buried two metres beneath the seabed in water depths reaching up to 12 metres. Because ocean work is strictly dictated by nature, the team had to mobilise an excavator-mounted barge from India and execute a complex offshore operation within a very tight window before the onset of the monsoon.”
“One of the greatest historical hurdles of reverse osmosis technology has been its heavy appetite for electricity. To keep operational costs in check, the Thalaiyady plant integrates state-of-the-art isobaric pressure-exchanger energy recovery systems. These devices capture hydraulic energy from the high-pressure brine reject stream and transfer it directly back to the incoming seawater feed – recovering roughly 95% of available energy and slashing power requirements.”
“Environmental stewardship was equally central to the design. To prevent high-salinity discharge from harming the marine ecosystem, the plant utilizes an offshore outfall equipped with specialized diffusers positioned more than 500 metres from the shore. This ensures rapid mixing within a tightly monitored zone, safeguarding local marine life,” he said.
The impact of the plant is already tangible on the ground. Producing water that meets rigorous national quality standards (SLS 614:2013), the facility feeds into a vast transmission network linked to elevated service reservoirs. These tanks regulate hydraulic pressure across sprawling distribution routes, bringing relief to areas historically plagued by hard, brackish water.
Currently, about 1,600 households in the Karaveddi Zone are actively connected to the desalinated supply, with water flowing across a regional network stretching from Kodikamam and Jaffna City down to distant island communities like Delft, Kayts and Punguduthivu.
The peninsula’s total daily drinking water demand hovers around 50,000 cubic metres for a population of roughly 600,000. Operating at full capacity, the Thalaiyadi plant yields 24,000 cubic metres per day – meeting nearly half of the region’s current needs.
Yet, planners are already looking decades ahead. Driven by economic development, tourism, and proposed industrial zones like Kankesanthurai, projected potable water requirements for domestic, commercial, and industrial needs are expected to climb from 95,000 cubic metres per day in 2025 to 135,000 by 2045, and 175,000 by 2065. Meeting this future trajectory will require a diversified national strategy combining desalination with surface-water preservation and rainwater harvesting.
When asked whether Sri Lanka should lean exclusively on seawater conversion amid intensifying climate volatility, Vijayakanth emphasised the need for a balanced approach: “Sri Lanka should adopt a diversified water-security strategy, prioritising sustainable surface-water development, groundwater protection, rainwater harvesting, water conservation, treated wastewater reuse and catchment protection. Desalination can complement these sources as a valuable climate-resilient and drought-proof option where appropriate.”
Backed by financial and technical collaboration from the Asian Development Bank (ADB), the project has given the National Water Supply and Drainage Board (NWSDB) invaluable expertise in advanced desalination management. Crucially, a two-year hands-on training program is ensuring that local technical staff master everything from membrane upkeep to preventive maintenance.
As climate variability accelerates, Thalaiyadi serves as a vital proof-of-concept. While energy-intensive desalination cannot replace conventional freshwater sources everywhere, Vijayakanth emphasises that it stands as an indispensable, drought-proof shield for Sri Lanka’s vulnerable dry zones – turning the ocean itself into a secure foundation for the nation’s future.
Business
Tropic Of Linen takes new form at The Shoppes at City of Dreams
Sri Lankan fashion label Tropic Of Linen recently opened the doors to its second boutique, located at The Shoppes at City of Dreams.
For over a decade, linen has formed the core of the brand’s inspiration and business ethos. Its textures, movement, and natural irregularities carry through the striking interior of Tropic Of Linen’s newly opened second store. Large sculptural forms in wind-worn sandstone sit against softer curves, while a grand olive tree anchors the heart of the store, reaching up toward a skylight and giving life to the entire space.
Drawing on her background in fine art and design, co-founder Minha Akram envisioned a layered, sensory interior intended to draw people into the world of Tropic Of Linen and invite them to linger.
Business
ANC Education celebrates ‘Class of 2026’ at graduation ceremony in Colombo
ANC Education held its 2026 graduation ceremony at BMICH, Colombo, celebrating graduates across multiple programmes. The cohort included 53 BBA graduates from Northwood University, 22 Psychological Sciences graduates from Northern Arizona University, 320 Pearson BTEC HND graduates, and 29 BTEC Level 7 graduates, alongside foundation, diploma, and transfer pathway students. Senior representatives from partner institutions attended.
Best Performer Awards recognised outstanding academic achievement. The event honoured years of hard work and support from families and educators. Since 2002, ANC has provided local and international pathways. Graduates now pursue careers, further studies, or international opportunities.
-
News7 days agoMissing doctor’s body found in Mahiyanganaya
-
News7 days agoAustralia declines to release Finance Secy Suriyapperuma’s citizenship details
-
News4 days agoEight politicians in drug kingpin probe
-
News7 days ago22A: BASL suggests CJ recuse himself from hearing petitions
-
Features2 days ago“Wrap Me Up in My Blazer”— A Gentlemanly Bradby Reminiscence
-
Business4 days agoSri Lanka opens up: A new season of direct connectivity
-
Features6 days agoInsights from Chieftains of Uva: Genealogy of two Kandyan Families – Part II
-
Features4 days agoRedefining ageing in Sri Lanka


