Softlogic Finance PLC has reported remarkable growth and improvements in many key indicators in the third quarter as well as the first nine months of the 2015/16 financial year.
Softlogic Finance has boosted net profit by 48.47% year-on-year (YoY), to Rs. 227.18 million as well as Profit Before Tax by 50.04% YoY to Rs. 260.05 million. The growth was even more commendable considering the figures for the third quarter of the 2015/16 financial year (3QFY15/16) with Profit Before Tax increasing by an outstanding 70.06% YoY to Rs. 106.87 million and net profit by 66.98% YoY, to Rs. 102.01 million.
Despite decrease in Interest Income year-on-year as a result of the low interest environment which prevailed during 9MFY15/16, net operating income rose by an impressive 15.16% YoY to Rs. 1,167.31 million, reflecting the company's strong fundamentals and resilience, as well as prudent strategic shift particularly in its assets portfolio.
Total assets as December 31, 2015 grew by a significant 11.56% YoY to Rs. 21,692.40 million, surpassing the growth of Liabilities by 9.3% YoY to Rs. 19,630.42 million.
The company added 11 branches to its network during the last nine months of the current financial year and at present has a network of 27 branches spread across the island.Softlogic Finance is part of the Softlogic Group.
www.dailynews.lk
Softlogic Finance has boosted net profit by 48.47% year-on-year (YoY), to Rs. 227.18 million as well as Profit Before Tax by 50.04% YoY to Rs. 260.05 million. The growth was even more commendable considering the figures for the third quarter of the 2015/16 financial year (3QFY15/16) with Profit Before Tax increasing by an outstanding 70.06% YoY to Rs. 106.87 million and net profit by 66.98% YoY, to Rs. 102.01 million.
Despite decrease in Interest Income year-on-year as a result of the low interest environment which prevailed during 9MFY15/16, net operating income rose by an impressive 15.16% YoY to Rs. 1,167.31 million, reflecting the company's strong fundamentals and resilience, as well as prudent strategic shift particularly in its assets portfolio.
Total assets as December 31, 2015 grew by a significant 11.56% YoY to Rs. 21,692.40 million, surpassing the growth of Liabilities by 9.3% YoY to Rs. 19,630.42 million.
The company added 11 branches to its network during the last nine months of the current financial year and at present has a network of 27 branches spread across the island.Softlogic Finance is part of the Softlogic Group.
www.dailynews.lk
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