Orient Finance PLC, an established player in Sri Lanka’s financial services sector, has announced a remarkable financial performance for the period ended 30th September 2024, reporting significant growth in key financial metrics.
For the period under review, the company achieved a net profit of Rs. 186.39 million, reflecting a 300.67% increase compared to the same period last year. This substantial growth in net profit demonstrates the company’s ability to generate strong returns, despite the challenging economic environment.
In addition, Orient Finance recorded an 11.91% increase in its total assets, which reached Rs. 22.92 billion as of 30th September 2024, compared to Rs. 20.5 billion as of 31st March 2024. This increase in total assets reflects the company’s strategic efforts to expand its business and solidify its position in the market.
Key financial highlights include:
• Net Profit: Rs. 186.39 million (300.67% increase YoY)
• Total Assets: Rs. 22.92 billion (11.91% increase compared to March 2024)
Rajendra Theagarajah, Chairman of Orient Finance PLC, commenting on the company’s performance, stated, “We are pleased to report a significant leap in profitability and asset growth, which underscores the strength of our business model and our ability to adapt to a dynamic financial landscape. The impressive 300.67% growth in net profit reflects our commitment to maximizing shareholder value and positioning Orient Finance for long-term success. We continue to focus on sustainable growth while maintaining our strong financial discipline.”
K.M.M. Jabir, Director/CEO of Orient Finance PLC, also shared his insights: “The 11.91% increase in total assets is a testament to our strategic initiatives and effective execution in a challenging market. Our focus on diversifying our portfolio and strengthening customer relationships has enabled us to deliver solid results. We remain confident in our ability to build on this momentum and continue driving growth across our business segments in the coming months.”
Orient Finance’s impressive financial results highlight its resilience and adaptability in an ever-changing market environment. With a strong foundation and continued focus on strategic growth, the company is well-positioned to achieve further success in the future.
Ends.
About Orient Finance
Orient Finance offers a comprehensive suite of financial services tailored to meet the specific needs of their customers. These services include mobilization of Deposits, Savings Accounts, Leasing, Gold Loans, Alternative Finance Solutions, Corporate Financing and many more. The company brings 43 years of stability, strength, reliability and expertise to the financial industry. Progressively, Orient Finance PLC has established itself as a customer-focused financial service provider that prioritizes innovation and offers exceptional products and customer service. Orient Finance is a Janashakthi Group Company, licenced by the Central Bank of Sri Lanka and rated BB+ (Positive Outlook) by LRA Rating.
Orient Finance PLC Board comprises Rajendra Theagarajah (Chairman), K.M.M. Jabir (Executive Director/Chief Executive Officer), Prakash Schaffter, Sriyan Cooray, Darshana Ratnayake, Nalin Karunaratne, Manohari Abeyesekera, Sandamali Chandrasekera, and Daniel Alphonsus.