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Good performance for the third quarter of 2021 with PBT growth of 97%
Orient Finance PLC recorded a profit before income tax of LKR 139 million as of 31 December 2021 for the third quarter of financial year 2021, demonstrating a growth of 97% compared to the corresponding period of the previous financial year. The Company’s net operating income for the period was 465 Mn, indicating an increase of 35% compared to the previous year. Orient Finance’s total assets for the period stood at Rs 17.1 billion against Rs 14.9 billion recorded as of March 31, 2021, signaling a strong position.
“Our consistent customer-centric approach that took into account the specific challenges of the pandemic economy has enabled us to continue to remain profitable and look after the interests of all our stakeholders. This is part of our sustainable approach to business. We operate on the basis of well-researched market data and information to achieve steady growth and create wealth on behalf of our clients. While continued economic challenges stemming from the pandemic-driven economic environment will create obstacles to our growth plans, we are confident in our ability to maintain growth momentum and adopt prudent strategies in a timely manner. Additionally, we enjoy an advantageous position within the Janashakthi Trust Group, a fact that bodes well for our future prospects,” commented Anil Tittawella, Chairman of Orient Finance PLC.
Orient Finance has been a reliable and solid player in the country’s financial scene for 40 years, earning the trust of clients with increasing certainty.
Despite the overwhelming and complex challenges of the past two years, we have been able to achieve consistent growth. Our performance in the third quarter of fiscal 2021 is indicative of our innate ability to navigate skillfully and with foresight through troubled waters. We will continue to pursue viable growth on behalf of our stakeholders in the same vein in the years to come,” said KMM Jabir, Director and Chief Executive Officer of Orient Finance PLC.
Incorporated in 1981, Orient Finance has earned a reputation as an eclectic facilitator of cutting-edge financial solutions to a diverse and growing customer base. With 31 branches representing 31,000 deposit holders and 10,000 lending customers across Sri Lanka, the company offers a bespoke range of financial services which includes mobilization of deposits, savings accounts, leasing, rental -sales, pawnshops, factoring, gold lending, working capital, financing and more.
The financial company is listed on the Colombo Stock Exchange and the board includes Anil Tittawella PC (Chairman), KMM Jabir (CEO), Prakash Schaffter, Minette Perera, Indrani Goonesekera, Sriyan Cooray, Darshana Ratnayake and Nalin Karunaratne.
Orient Finance PLC is a member of the Janashakthi Group which operates in the insurance, finance, investment and real estate sectors.
