This dissertation, submitted by T.S.L. Rupasinghe to the University of Ruhuna in partial fulfillment of a Bachelor's degree, investigates the relationship between liquidity and profitability in the context of listed manufacturing companies in Sri Lanka. The study examines the impact of liquidity ratios, specifically current and quick ratios, on profitability measures such as Return on Assets (ROA), Return on Equity (ROE), and Return on Sales (ROS). Using secondary data from 15 manufacturing companies listed on the Colombo Stock Exchange from 2008 to 2012, the research employs correlation and regression analyses to determine the nature and extent of the relationship between liquidity and profitability. The findings suggest a significant relationship between liquidity and profitability, although the influence of liquidity on profitability is found to be relatively low, with the quick ratio not showing a significant relationship with ROE. The study aims to contribute to the understanding of financial management practices and inform decision-making for both internal and external stakeholders of Sri Lankan manufacturing companies.