People’s Leasing Group has reported consolidated revenue of Rs. 4.37 billion for the first quarter of 2011/12, up 26.8 per cent 4% against the same period last year. The company itself, according to a media release it issued, has seen revenue rise by 23.8 per cent to Rs. 729 million. “Despite the current unflattering economic [...]

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The Sundaytimes Sri Lanka

People’s Leasing Group rejoices Q1 results

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People’s Leasing Group has reported consolidated revenue of Rs. 4.37 billion for the first quarter of 2011/12, up 26.8 per cent 4% against the same period last year. The company itself, according to a media release it issued, has seen revenue rise by 23.8 per cent to Rs. 729 million.
“Despite the current unflattering economic setting of the country, the company has been competent to register a YoY growth of 7.71% in Net interest income against the Q1 of financial year 2011/12 and has reported an exemplary Rs. 700 million Net profit for the Q1,” the statement said.

The Rs 85 million-increase in net profit was after removing the impact of the general provision reversal effected in June 2011. The net reversal of Rs. 1,063 million pertained to the estimation change due to the continuous increase in the quality of the lending portfolio and improved economic conditions prevailed in the country, the statement said.




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