Orient Finance records Rs.129mn PAT for 3Q

Orient Finance PLC recorded a Profit Before Tax (PBT) income of Rs.139 million for the three months ended December 31, 2021 (3Q22), demonstrating a growth of 97 percent in comparison to the corresponding period in the previous financial year. 

The Profit After Tax (PAT) for the period was Rs.129 million, or 61 cents a share compared to earnings of Rs.66 million or 32 cents a share. 
The company’s net operating income for the period was Rs.465 million, indicating an increase of 35 percent when compared to the previous financial year. 
The total assets of Orient Finance for the period stood at Rs 17.1 billion, up from Rs 14.9 billion recorded as of March 31, 2021. The increase signals a robust position. 
“Our consistent customer-centric approach that took into account the specific challenges of the pandemic economy enabled us to continue to remain profitable and look after the interest of all our stakeholders. 

“This falls in line with our sustainable approach to business. We operate based on well-researched market data and insights to achieve steady growth and build wealth on behalf of our customers,” said Orient Finance Chairman Anil Tittawella commenting on the performance.

Orient Finance Director and CEO K. M. M. Jabir pointed out that in spite of the overwhelming and complex challenges of the past couple of years, the entity has been able to achieve steady growth. “Our performance in the third quarter of the financial year 2021 is indicative of our innate ability to navigate troubled waters skilfully and with foresight,” he said.