State Enterprises Post Rs. 259.3 Billion Profit in First Half of 2026, Up 13.8%
Sri Lanka’s major state-owned enterprises (SOEs) recorded a combined profit of Rs. 259.3 billion in the first six months of 2026, up from Rs. 227.8 billion in the same period of 2025, according to the Ministry of Finance. The Rs. 31.5 billion increase, or about 13.8%, reflects improved overall performance despite losses at several institutions and economic pressures from the Middle East conflict. The figures appear in the Ministry’s Mid-Year Fiscal Position Report 2026, released on October 31.
State banks and financial institutions were among the biggest contributors. Bank of Ceylon reported a profit before tax of Rs. 62.7 billion, People’s Bank Rs. 32.6 billion and the National Savings Bank Rs. 22.6 billion. The Employees’ Trust Fund Board made Rs. 36.5 billion and the National Insurance Trust Fund Rs. 12.8 billion. Among other major enterprises, the Sri Lanka Ports Authority posted Rs. 34.5 billion, the Ceylon Petroleum Corporation (CPC) Rs. 29.2 billion, Airport and Aviation Services (Sri Lanka) Limited Rs. 24.9 billion and the National Water Supply and Drainage Board Rs. 16.2 billion.
Several enterprises continued to make losses. SriLankan Airlines was among the largest, with a loss before tax of Rs. 35.6 billion for April to June 2026, compared to Rs. 8.9 billion in the same quarter of 2025. Lanka Sugar Company lost Rs. 1.53 billion and the Sri Lanka Transport Board Rs. 471 million in the first half. Other loss-making institutions included the State Printing Corporation, Sri Lanka Rupavahini Corporation, Sri Lanka Broadcasting Corporation, Independent Television Network and Lanka Sathosa.
The Ministry also 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 to June 2026 to cushion consumers and the economy from the effects of the Middle East conflict.
The report added that the Government set up a dedicated SOE restructuring unit in March 2026, which is currently handling the liquidation of 33 selected state-owned enterprises. Treasury revenue from levies and dividends from state enterprises rose to Rs. 12.6 billion in the first half of 2026, from Rs. 11.7 billion a year earlier.
The Ministry said state enterprises faced higher input costs, supply chain disruptions and order cancellations in the second quarter, but overall financial performance remained positive.
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