FINANCIAL CHRONICLE – John Keells Holdings (JKH) of Sri Lanka reported a significant increase in profits, rising by 128 percent to 6.5 billion rupees for the December 2025 quarter. This growth was primarily driven by strong revenues from vehicle sales and casino operations.
The conglomerate reported earnings of 0.37 rupees per share for the quarter. Over the nine months leading to December, JKH, a major player in the market, recorded earnings of 0.41 cents per share with total profits amounting to 7.3 billion rupees, reflecting a 119 percent increase.
In the September quarter, JKH’s revenues rose by 54 percent to 125 billion rupees. The cost of sales increased by 52 percent to 98.3 billion rupees, while gross profit climbed by 62 percent to 26 billion rupees. Revenue and earnings before interest, tax, and depreciation were mainly fueled by the sales of electric and hybrid vehicles, financial services, and the City of Dreams Sri Lanka, which posted a positive EBITDA of 1.4 billion rupees, a significant improvement from a negative 1.6 billion the previous year, according to Chairman Krishan Balendra’s earnings report to shareholders.
This positive EBITDA includes fair value gains on investment property, contrasting with last year’s negative EBITDA, which did not account for such gains. The casino segment has also shown steady growth, with JKH recognizing fixed rental incomes for the complete quarter. Variable rental incomes will be acknowledged once casino revenue reaches a specified target, the company stated.
Amid a customs dispute regarding the motor capacity of imported BYD vehicles, JKH halted deliveries and initiated legal action against Sri Lanka Customs. The vehicles have since been released, except for those held for testing. While awaiting a resolution, JKH has intensified its focus on hybrid vehicles, with over 3900 units pending delivery in the forthcoming months, the company noted.
“JKCG (John Keells CG Auto) has fully cooperated with the authorities and continues to advocate for independent testing at an internationally accredited motor laboratory,” Balendra emphasized. “We remain committed and resolute in our efforts to reach an expeditious permanent solution to this matter, ensuring our prospective customers benefit from a wider choice when deciding on their purchase of BYD’s extensive range of vehicles.”
“JKCG has concurrently ramped up its focus on the hybrid segment offered by BYD and has also seen strong interest for these models.”
The Colombo West International Terminal also demonstrated steady month-on-month growth, recording a positive profit after tax and exceeding expectations. (Colombo/January 28th/2026)
