Record Rs. 2 Bn income, Rs. 214 Mn profit for Kalubowitiyana Tea Factory in 2022

The Kalubowitiyana Tea Factory has earned a record income of Rs.2 billion in 2022.

It was also able to record a net profit of Rs.214 million after tax during the same period. This was revealed when the Kalubowitiyana Tea Factory Limited was summoned to the Committee on Public Enterprises (COPE) recently under its Charman MP (Prof.) Ranjith Bandara. The COPE Chair congratulated the company on the progress it has made. He also said this company is a great example for other companies.

Addressing the Committee, Kalubowitiyana Tea Factory Limited Chairman Aminda Rodrigo, stated that there are four tea factories in Matara, Galle and Kandy districts and they have successfully overcome many challenges including obtaining tea leaves. He also stated that the company has shown success by adhering to the existing rules of the government as a public institution. The Auditor General said that this state-owned company has shown great progress in terms of accounts and financial statements although it is a small company. He appreciated the company and mentioned that it has been a long time since he met such a progressive institution.The Auditor General pointed out that the recommendations given by COPE in 2013 have been followed to an extent of ninety-five percent and great progress has been achieved through high management skills. Attention was paid only to two audit questions.

Attention was directed on recovering the amount of Rs.1.4 million which is the deposit amount paid when acquiring the building where the head office was maintained by the company on a monthly rental basis. A case is being filed in this regard.

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