LOLC Becomes Sri Lanka’s Most Profitable Listed Entity For The Third Consecutive Time 
Posted 25,November

By Chaveendra Dunuwille

In Local News

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LOLC, widely regarded as Sri Lanka’s most valuable globally diversified financial conglomerate, has claimed the title of most profitable listed entity in the 28th Edition of the LMD Top 100 for 2020/21. The achievement marks the 3rd consecutive year LOLC has held on to the top spot. 

Group Managing Director/CEO Kapila Jayawardana credited the achievement of monumental figures such as LKR 53 billion Post- Tax- Profit and LKR 57 billion Profit-Before- Tax to the company’s strategic diversification and strong operational capabilities. The company’s corporate sustainable initiatives also helped them retain the title. Most notable is the fact that 76% of LOLC’s energy consumption was catered for by the group’s own renewable energy sources. 

The group is involved in many key sectors such as leisure, plantations, renewable energy, real estate, and manufacturing both locally & internationally. They have also managed to establish a foothold in Asia and Africa with investments in Myanmar, Nigeria, Zambia, Pakistan, etc. 

The diverse nature of the company also allowed them to generate a substantial amount of foreign exchange for the depleted Sri Lankan market. This was done through the divestment of PRASAC in Cambodia, which was the largest transaction recorded by a Sri Lankan entity.