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JXG delivers LKR 3.2 Bn PAT, driven by 19% revenue growth in 9M FY26

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(L to R) Chandan de Silva, Group Chairman – JXG (Janashakthi Group) and Ramesh Schaffter, MD/Group CEO – JXG (Janashakthi Group)

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.



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Needs of populace hit by Cyclone Ditwah seen as waiting to be addressed

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Lionel Bopage: ‘Recovery painfully slow.’

By Hiran H. Senewiratne

The government is yet to address fully the needs of the Cyclone Ditwah affected populace though one year has elapsed. The devastation cost the country more than US $ 4.1 billion, an Australia-based Chartered Engineer of Sri Lankan origin said.

‘Cyclone Ditwah affected more than 2.2 million people in 25 districts, which is considered to be one tenth of the population. However, only 39 percent of the allocated funds have been spent to date, the speaker, a one-time General Secretary of the JVP, now living in Australia Lionel Bopage said.

He made these comments at a Rotary Club Colombo South monthly meeting held at the Kingsbury Hotel, Colombo recently.

Bopage quoted from a Loughborough University research report published in February to the effect that Sri Lanka has under invested in prevention but over invested in recovery.

Bopage added: ‘The largest single economic category affected were not buildings but the agriculture sector which provides livelihoods for the majority of affected persons. Therefore agricultural livelihoods have been hit most.

‘More than 58,000 hectares of paddy lands were flooded in the Eastern districts alone, while 46 reservoirs reached critical spill level or failed outright following the disaster.

‘A rapid education sector assessment found that 1,682 schools were affected and more than 555,000 children were unable to attend schools. Further, 622 water supply schemes had been left non-functional and apart from that 11300 homes were damaged or destroyed. But reconstruction is happening at a very slow pace.

‘Tens of thousands of households in the hill country and in the East are still living in damaged properties and on unstable slopes drawing water from schemes that have not been restored.

‘ A Post Disaster Needs Assessment put the cost of resilience at US$ 3.4 billion but restoration work is happening at a slow pace even with foreign donor assistance.’

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WB forecast buoys bourse but weak investor participation slows momentum

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By Hiran H. Senewiratne

The CSE yesterday kicked off on a positive note due to a World Bank forecast that Sri Lanka could achieve 4.4 percent economic growth this year but later lost momentum due to weak investor participation.

Amid those developments both indices moved upwards. The All Share Price Index went up by 132 points while S and P SL20 rose by 21.02 points.

Turnover stood at Rs 1.97 billion with three crossings. Those crossings were; Lanka IOC 2.7 million shares crossed to the tune of Rs 470 million; its shares traded at Rs 127, CCS 2.7 million shares crossed to the tune of Rs 315 million; its shares sold at Rs 118 and JKH five million shares crossed for Rs 91.5 million; its shares traded at Rs 18.30.

In the retail market companies that mainly contributed to the turnover were; Commercial Credit and Finance Rs 126 million (1.3 million shares traded), Lanka IOC Rs 98 million (775,000 shares traded), Asiri Surgical Hospitals Rs 77 million (7.6 million shares traded), Commercial Bank Rs 51.3 million (307,000 shares traded), Sampath Bank Rs 46 million (325,000 shares traded), HNB Rs 37 million (98000 shares traded) and Tokyo Cement Rs 31 million (393,000 shares traded). During the day 50 million share volumes changed hands in 14547 transactions.

It is said that the petroleum sector performed well, especially Lanka IOC, while in the banking sector counters, especially Commercial Bank and Sampath Bank performed well. In the manufacturing sector, JKH impressed.

TAL Lanka Hotels announced that it has scheduled an Extraordinary General Meeting on October 29 to obtain shareholder approval for a proposed Rs 1.87 billion rights issue. The proceeds will be utilized for the repayment of bank borrowings, part refurbishment of the Taj Samudra Hotel in Colombo, settlement of vendor liabilities, and general corporate requirements.

Yesterday the rupee was quoted at Rs 330.95/331.05 to the US dollar in the spot market, weaker from Rs 330.85/95 the previous day, while bond yields were quoted broadly steady, dealers said.

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Huawei continues to showcase practical AI applications at Sri Lanka AI Week 2026

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Sri Lanka AI Week 2026 continued into its second day bringing together government, industry, academia and technology partners to explore practical applications of artificial intelligence. As the AI Technology Partner for the second consecutive year, Huawei showcased 18 use cases spanning government, education, finance, industry, green energy and everyday life, demonstrating how AI can be applied to real-world needs.

Prime Minister Dr. Harini Amarasuriya visited the Huawei exhibition together with officials from the Ministry of Education, Higher Education and Vocational Education, experiencing the Smart Classroom, AI in Education and MindGraph by Beijing Normal University demonstrations. The Smart Classroom demostration highlighted how connected technologies can bring teachers and students in different locations into a shared learning environment, while the AI in Education showcase demonstrated how AI can support teachers, enhance learning and enable more personalised education. The Prime Minister praised the efforts of the Ministry of Education, Higher Education and Vocational Education, Huawei and their partners to demonstrate practical applications of AI in education, noting the role of technology in supporting teachers, expanding learning opportunities, and advancing a more inclusive, equitable and future-ready education system.

Later in the day, Deputy Minister of Digital Economy Eng. Eranga Weeraratne, Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe, Secretary to the Ministry of Digital Economy Waruna Sri Dhanapala, and Chinese Ambassador Wei Huaxiang visited the Huawei exhibition and explored the AI Hands-On Classroom AI Empowering Industry, AI in Education and Smart Classroom demonstrations. Deputy Minister Weeraratne praised Huawei’s practical approach to showcasing AI applications, noting their relevance to Sri Lanka’s digital transformation across education, industry and skills development. The engagement also extended across the wider AI ecosystem, with industry professionals, technology partners, academics and other visitors engaging with the demonstrations and expressing appreciation for Huawei’s practical approach to applying AI across different areas of society and the economy.

Daniel Wu, CEO of Huawei Sri Lanka, said that Huawei will continue bringing global experience, technology and ecosystem resources to Sri Lanka, while working side by side with local partners to build local capabilities, develop local talent and create real value for the country. “I believe that by working together, we can make AI not only more intelligent, but also more local, more inclusive, and more meaningful for everyone,” he said.

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