Siyapatha Fin. sees steady growth in 1H2024
View(s):Siyapatha Finance PLC has seen steady financial growth for the first half ended of 2024 with a Profit After Tax (PAT) of Rs.513 million, up by 189 per cent compared to the corresponding period last year.
Its Profit Before Tax (PBT) grew by 133 per cent compared to the preceding year and stood at Rs.1,215 million, the company said in a media release.
During the period, Net Interest Income (NII) saw a notable upsurge of 70.0 per cent to reach Rs.2,078 million compared to Rs.1,223 million recorded during the previous year – an increase attributed to the significant decrease in interest expenses as at June 30, 2024.
The company witnessed satisfactory financial stability against socio-economic shocks during the period in review.
In terms of asset quality, the period under review recorded total assets at Rs.56 billion compared to the Rs.47 billion recorded during the corresponding period last year. Further the asset quality of the portfolio has improved with the reduction of non-performing advances (NPA) Ratio by 7.74 per cent.
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