Janashakthi PLC (JXG) has disclosed its financial results for the first quarter of the fiscal year 2026/27 (Q1 FY27), representing its initial reporting period since the company completed an initial public offering (IPO) on the Colombo Stock Exchange (CSE), which saw three times the amount of subscriptions. The consolidated revenue for the quarter was recorded at LKR 6.4 billion, a decrease from LKR 7.2 billion during the same quarter last year. This decline can be attributed to global economic challenges, particularly geopolitical tensions related to the ongoing conflict in the Middle East. Nevertheless, the Group’s fundamental operations displayed resilience, with an optimistic outlook for improvement as the year unfolds.
Chandan de Silva, the Group Chairman of Janashakthi PLC (JXG), expressed that, “Presenting our first set of results as a publicly listed company following a successful IPO is a crucial milestone for us. The first quarter reflects the dynamic economic environment we are navigating, with fluctuations impacting various performance metrics. Our commitment to prudent capital management, effective governance, and fortifying our core operations remains unwavering as we pursue strategic initiatives aimed at generating long-term value for our shareholders and stakeholders.”
Key Highlights
The consolidated revenue for Q1 FY27 was LKR 6.4 billion, with contributions of LKR 2.1 billion from First Capital Holdings PLC, LKR 2.5 billion from Janashakthi Insurance PLC, and LKR 1.8 billion from Janashakthi Finance PLC. Despite the overall consolidation, the Group’s insurance and finance sectors performed robustly, although mark-to-market pressures on fixed income trading at First Capital Holdings led to a Group loss of LKR 780.8 million.
During the quarter, First Capital Holdings PLC reported a Loss after Tax of LKR 726 million, primarily due to volatile mark-to-market valuations of fixed income assets amid fluctuating short-term interest rates. However, the company’s Corporate Finance Advisory, Corporate Dealing Securities, Wealth Management, and Stock Brokering divisions continued to show resilience and contributed positively.
Janashakthi Insurance PLC achieved a Net Profit After Tax (NPAT) of LKR 129 million in the first half of the fiscal year ending December 31, 2026, supported by a 36% year-on-year increase in Gross Written Premiums (GWP) to LKR 5.1 billion, significantly surpassing industry growth. Additionally, total assets rose to LKR 41.1 billion.
Janashakthi Finance PLC also recorded impressive growth, with NPAT rising by 51% to LKR 90.4 million, bolstered by a 24.7% increase in Net Operating Income to LKR 837.8 million.
Ramesh Schaffter, Managing Director and Group CEO of Janashakthi PLC (JXG), stated, “Although market conditions have affected certain revenue streams this quarter, our core businesses remain fundamentally robust, and we are committed to implementing our long-term strategies decisively. The recent proposed acquisition of Continental Insurance Lanka Limited, pending regulatory approval, is a significant step in our reintegration into general insurance and aligns with our commitments made during the IPO. We are focused on disciplined execution and strengthening our Group’s integration.”
Looking forward, JXG aims to concentrate on disciplined capital management, enhancing its core businesses, and exploring targeted opportunities to bolster its financial services platform and ensure sustainable long-term value creation.
