FINANCIAL CHRONICLE – Singer Sri Lanka, a prominent retailer in consumer durables, recorded a remarkable 77.5 percent increase in profits, reaching 2.39 billion rupees for the quarter ending March 31, 2026. This substantial growth was primarily driven by significant advancements in its home appliances and financial services divisions, as indicated by the company’s interim financial reports.
For the three-month period concluding on March 31, 2026, the group’s revenue soared by 47 percent to 35.7 billion rupees, compared to 24.2 billion rupees during the same timeframe the previous year.
The cost of sales escalated by 41 percent, totaling 21.9 billion rupees in the same quarter.
The gross profit of the company surged by 56 percent, amounting to 11.8 billion rupees, while operating profit experienced an impressive growth of 89 percent, reaching 4.9 billion rupees.
The group reported earnings of 2.05 rupees per share for the quarter, a significant rise from the 1.15 rupees per share recorded in the equivalent quarter of the previous year.
Strong performance across key business segments was instrumental in driving this positive financial outcome.
The home appliances sector reported its profits before tax (PBT) more than doubling, climbing 164 percent to 1.86 billion rupees. The financial services segment achieved a PBT of 1.82 billion rupees, reflecting a 77 percent increase from 2024. Additionally, the digital products category generated a PBT of 559.2 million rupees, compared to 259.9 million rupees in the prior year.
Despite the substantial profit growth, the group faced a notable increase in impairment losses on trade and other receivables, which rose to 455.4 million rupees for the quarter, up from 62.1 million rupees in the corresponding period last year.
As of March 31, 2026, Singer Sri Lanka’s shares were last traded at 76.20 rupees, a significant improvement from the last traded price of 33.80 rupees in the same period of the previous year.
On Tuesday, May 19, 2026, shares closed at 77.20 rupees, marking a decrease of 2.89 percent.
