Orient Finance sees strong profit, asset growth this year
View(s):Orient Finance PLC during the period ending September 2024, has achieved a strong net profit of Rs. 186.39 million, a sharp 300.67 per cent increase compared to the same period last year.
In addition, Orient Finance recorded an 11.91 per cent increase in its total assets, which reached Rs. 22.92 billion as of end September 2024, compared to Rs. 20.5 billion as of end March 2024. This increase in total assets reflects the company’s strategic efforts to expand its business and solidify its position in the market, the company said in a media release.
Its Chairman Rajendra Theagarajah, commenting on the company’s performance, said, “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 per cent growth in net profit reflects our commitment to maximising shareholder value and positioning Orient Finance for long-term success. We continue to focus on sustainable growth while maintaining our strong financial discipline.”
K.M.M. Jabir, Director/CEO of Orient Finance PLC, also shared his insights: “The 11.91 per cent increase in total assets is a testament to our 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.”
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.
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