CORPORATE PROFITS EXCEL AMID EQUITY UNDERVALUATIONS

Conglomerate giant John Keells Holdings PLC (JKH) reported a massive 213% year-on-year surge in net profits for the September quarter, hitting 5.17 billion rupees. Simultaneously, financial analysts on LinkedIn point out that Sri Lankan equities have dropped 17% in US dollar terms due to external Middle Eastern tensions. Fund managers view this market sell-off as overdone, arguing that cyclical lows offer deep valuation opportunities for international asset buyers. Detailed summaries of private credit trends and corporate movements are hosted at the Daily Mirror Business Insights.

The group posted basic earnings per share of Rs. 0.29 for the September quarter, up from Rs. 0.09 a year earlier.Quarterly revenue contracted marginally by 2 percent to Rs. 142.1 billion from Rs. 144.8 billion.

Top-line moderation was primarily driven by normalized vehicle sales at its New Energy Vehicle venture, John Keells CG Auto (JKCG).

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