Sri Lanka’s major state-owned enterprises (SOEs) recorded a combined profit of Rs. 259.3 billion during the first six months of 2026, compared to Rs. 227.8 billion during the corresponding period in 2025, according to the Ministry of Finance.
The increase of Rs. 31.5 billion, or approximately 13.8%, reflects improved overall financial performance despite losses at several state institutions and economic pressures arising from the conflict in the Middle East.
The figures were revealed in the Finance Ministry’s Mid-Year Fiscal Position Report 2026, released on October 31.
State banks and financial institutions were among the major contributors to profits.
The Bank of Ceylon reported a profit before tax of Rs. 62.7 billion, while People’s Bank recorded Rs. 32.6 billion and the National Savings Bank Rs. 22.6 billion.
The Employees’ Trust Fund Board reported a profit of Rs. 36.5 billion, while the National Insurance Trust Fund recorded Rs. 12.8 billion.
Among other major state enterprises, the Sri Lanka Ports Authority reported a profit of Rs. 34.5 billion, followed by the Ceylon Petroleum Corporation (CPC) with Rs. 29.2 billion.
Airport and Aviation Services (Sri Lanka) Limited recorded Rs. 24.9 billion, while the National Water Supply and Drainage Board reported Rs. 16.2 billion.
However, several state enterprises continued to report financial losses.
SriLankan Airlines was among the biggest loss-making institutions, reporting a loss before tax of Rs. 35.6 billion during April–June 2026, compared to Rs. 8.9 billion during the corresponding three-month period in 2025.
Lanka Sugar Company reported a loss of Rs. 1.53 billion, while the Sri Lanka Transport Board recorded a loss of Rs. 471 million during the first six months of 2026.
Other loss-making institutions included the State Printing Corporation, Sri Lanka Rupavahini Corporation, Sri Lanka Broadcasting Corporation, Independent Television Network and Lanka Sathosa.
Meanwhile, the Finance Ministry revealed that the General Treasury provided Rs. 41 billion in subsidies to the CPC and Rs. 15 billion to National System Operator (Private) Limited during April–June 2026 to mitigate the effects of the Middle East conflict on consumers and the economy.
The report also noted that the Government had established a dedicated SOE restructuring unit in March 2026, which is currently engaged in the liquidation of 33 selected state-owned enterprises.
Revenue collected by the Treasury through levies and dividends from state enterprises increased to Rs. 12.6 billion during the first half of 2026, compared to Rs. 11.7 billion during the corresponding period last year.
The Ministry said state enterprises faced higher input costs, supply chain disruptions and order cancellations during the second quarter of 2026, but overall financial performance remained positive. (Newswire)