Orient Finance records strong profit surge and asset growth for 2Q

Orient Finance PLC, for the period ended 30 September achieved a net profit of Rs. 186.39 million, reflecting a 300.67 percent 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 percent 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.

Orient Finance PLC Chairman Rajendra Theagarajah 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 percent 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.”

Director/CEO K.M.M. Jabir also shared his insights noted that the 11.91 percent increase in total assets is due to 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,” he said. .

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.