Janashakthi PLC (JXG) reported its maiden first quarter financial year 2026/27 (1Q FY27) results, marking its first reporting period since a successful initial public offering (IPO) on the Colombo Stock Exchange (CSE) that was oversubscribed by three times.
The consolidated revenue stood at Rs.6.4 billion, compared to Rs.7.2 billion in the corresponding period of the previous year, a decline reflecting the global economic uncertainties driven by the geopolitical tensions arising from the Middle East conflict. Against this backdrop, the group’s core businesses demonstrated resilience during the quarter and the group expects these pressures to ease as the year progresses.
JXG Group Chairman Chandan de Silva said, “Reporting our first set of results as a listed entity following a successful IPO is a significant milestone for the group. The first quarter reflects a changing economic and market environment, with short-term movements impacting certain areas of performance. Our focus remains firmly on disciplined capital allocation, sound governance and strengthening our core businesses, while continuing to execute the strategic priorities that will create long-term value for our shareholders and stakeholders.”
The consolidated revenue stood at Rs.6.4 billion for 1Q FY27, with contributions of Rs.2.1 billion from First Capital Holdings PLC, Rs.2.5 billion from Janashakthi Insurance PLC and Rs.1.8 billion from Janashakthi Finance PLC.
The group’s insurance and finance businesses delivered strong underlying performance during the quarter, though this was offset at the consolidated level by mark-to-market pressure on fixed income trading at First Capital Holdings, resulting in a group loss of Rs.780.8 million.
First Capital Holdings recorded a loss after tax of Rs.726 million during the quarter, largely reflecting mark-to-market movements on fixed income positions amid short-term interest rate volatility. The business’ corporate finance advisory, corporate dealing securities, wealth management and stockbroking franchises remained resilient and continued to contribute positively.
Janashakthi Insurance recorded a net profit after tax (NPAT) of Rs.129 million during the first half of financial year ending December 31, 2026, backed by a 36 percent YoY growth in GWP to Rs.5.1 billion, significantly ahead of industry growth, with total assets increasing to Rs.41.1 billion.
Janashakthi Finance delivered continued growth, with the NPAT increasing 51 percent to Rs.90.4 million, backed by a net operating income increase of 24.7 percent to Rs.837.8 million.
JXG Managing Director and Group CEO Ramesh Schaffter said, “While the market conditions have impacted certain earnings streams this quarter, our underlying businesses remain fundamentally strong and we continue to act decisively on our long-term strategy. The recent proposed acquisition of Continental Insurance Lanka Limited (subject to regulatory approval) is a clear example of this, a significant milestone in our re-entry into general insurance and a direct fulfilment of the commitments we made at the IPO. We remain firmly focused on executing with discipline and building a stronger, more integrated group.”
JXG posts Rs.6.4bn revenue in maiden results post-CSE listing, amid global headwinds
