Taprobane Holdings made a turn around in the financial year ending in March 2016 by recording a profit of Rs 12.5 million when considering the previous financial year which incurred several losses.
The company resulted in making revenue of Rs. 9.9 million which is a significant growth when compared to the Rs. 711 million.
“Modest contributions from the money broking and investment in government securities, as well as a doubling of revenue from the stock broking arm also supported revenue growth.
“As interest rates trended downwards, the Group benefited from profits on bond sales and, as investors sought higher returns amid the prevalent low interest rate scenario, a keen interest was seen in the stock market, which rendered a notable improvement in revenues for the stock broking arm,” Group Chief Executive Officer Ruwan Sugathadasa said.
The company resulted in making revenue of Rs. 9.9 million which is a significant growth when compared to the Rs. 711 million.
“Modest contributions from the money broking and investment in government securities, as well as a doubling of revenue from the stock broking arm also supported revenue growth.
“As interest rates trended downwards, the Group benefited from profits on bond sales and, as investors sought higher returns amid the prevalent low interest rate scenario, a keen interest was seen in the stock market, which rendered a notable improvement in revenues for the stock broking arm,” Group Chief Executive Officer Ruwan Sugathadasa said.
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