Ceylon FT: People's Leasing and Finance PLC (PLC) saw group net profits grow 2.4% year-on-year to Rs 2.3 billion for the nine months ended December 2013, interim financial results showed.
Impairment charges for loans and receivables grew 86.3% to 1.12 billion.
Total operating expenses grew 14.1% to Rs 4.17 billion.
Earnings per share amounted to Rs 1.46, up marginally from 1.42 a year ago.
The group's asset base increased 12.2% to Rs 113.44 billion. Net asset per share amounted to Rs 11.76, up six cents from a year ago.
Its loan book grew 4.4% to Rs 92.2 billion as at end December 2013.
Interest income grew 15% to Rs 14.77 billion during the nine-month period and interest expenses grew 11.3% to Rs 8.36 billion, leading to a net interest income of Rs 6.38 billion, up 20.1% from a year ago.
Impairment charges for loans and receivables grew 86.3% to 1.12 billion.
Total operating expenses grew 14.1% to Rs 4.17 billion.
Earnings per share amounted to Rs 1.46, up marginally from 1.42 a year ago.
The group's asset base increased 12.2% to Rs 113.44 billion. Net asset per share amounted to Rs 11.76, up six cents from a year ago.
Its loan book grew 4.4% to Rs 92.2 billion as at end December 2013.
Lease and advances, insurance and other business lines showed growth in earnings. State-owned People's Bank has a 75% stake in the company followed by the Employees' Provident Fund with a 4.77% stake and state-owned National Savings Bank with 3.75% and Distilleries Company of Sri Lanka with 1.55%.
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