Orient Finance continues growth momentum in first quarter

Posting a steady performance, Orient Finance PLC recorded a profit before tax of Rs. 59 million for the first quarter of the financial year 2021-22, indicating a growth of 217 percent in comparison to the corresponding period of the previous financial year. 

The company’s net operating income for the same period increased by 125 percent from Rs. 149 million to Rs. 336 million. 

Meanwhile, the company’s total assets for the period stood at Rs. 15 billion in comparison to Rs. 14 billion recorded during the corresponding period in the previous financial year.  “The pandemic triggered unprecedented economic and social challenges that negatively impacted all Sri Lankans. As a responsible corporate entity that works not only to achieve business success but also assist our customers build and maintain financial stability, the prevailing status quo has been exceptionally challenging to us.  “However, we adopted a prudent, customer centered approach to pursue sustainable growth during the period. As a result, we achieved steady growth and succeeded in helping our customers to continue to build wealth. 

“Moreover, our advantageous position as part of the Janashakthi Group played a crucial role in retaining stakeholder confidence. While the prevalent pandemic will continue to pose complex economic challenges, we remain confident of our ability to pursue sustainable growth and create value for all stakeholders,” commented Anil Tittawella, Chairman of Orient Finance PLC. 

Orient Finance recently celebrated its 40th year since inception, illustrating the Company’s stability and the trust that it has garnered over the years.  Speaking about the company’s performance and future growth K. M. M. Jabir, Director and Chief Executive Office of Orient Finance PLC said, “As we step into a new era after celebrating our 40th year as a trusted and reputed financial institution in Sri Lanka, our first quarter performance gives us the strength to continue to pursue long-term growth.”