CEB Sept. Qtr Profit Plummets 98% YoY 📉

• Ceylon Electricity Board (CEB) Q3 2025 Profit After Tax (PAT) fell dramatically by 98% YoY to Rs. 466.5 Mn, down from Rs. 29 Bn a year earlier. PAT also dropped 94% QoQ. • Nine-Month (9M) Financials: The utility has slipped into a net loss of Rs. 9 Billion for the nine months to end-September, a major reversal from the Rs. 152 Billion profit in the corresponding 2024 period. • Key Drivers: This collapse is attributed to eroding margins, with 9M Revenue falling 30% to Rs. 321.7 Bn while Cost of Sales rose 1%, resulting in a Gross Loss of Rs. 1.2 Bn. • SOE Impact: CEB was the single largest drag on overall State-Owned Enterprise profitability in H1 2025, recording a Rs. 13.2 Bn loss due to lower tariffs (20% cut in Jan) despite increased demand. • Sector Reform: Restructuring is proceeding with the unbundling of the utility. The IMF continues to urge the maintenance of cost-recovery tariffs and reform momentum to safeguard the electricity sector and prevent a return to losses that burden taxpayers.