Orient Finance 1Q turnover up 27% to Rs. 809.8 mn

Posting a steady performance, Orient Finance PLC, a leading financial service provider, recorded a 27% increase in the company’s turnover with Rs. 809.8 million for the first quarter of the financial year 2022-23. Indicating a growth of 11% in comparison to the corresponding period in the previous financial year, the company recorded a profit before tax of Rs. 66.4 million for the period under review.

Furthermore, illustrating the Company’s stability, Orient Finance PLC recorded a total capital adequacy ratio (CAR) of 15.94% as of 30th June 2022 which surpasses the required total capital adequacy ratio of 14% stipulated by the Central Bank of Sri Lanka for the well-capitalised category with assets less than Rs. 100 Bn. As such, the company continues to meet the required regulations and is categorized as a well-capitalised Company in line with the guidelines of the Central Bank of Sri Lanka.

“Orient Finance has upheld its commitment to its stakeholders to maintain a steady course while driving sustainable performance. Our team consistently strived to deliver and ensure that the needs of our customers are met. This was not an easy task, yet we succeeded and achieved sustained growth, in the interest of all our stakeholders.”

“As we continue to navigate the evolving challenges, our advantageous position as a member of Janashakthi Group will strengthen our ability to continue our growth momentum”, said Chairman Rajendra Theagarajah.

“With an insight-driven strategy to create value for all stakeholders, we crafted our strategy to meet the current demand with innovative and timely financial solutions. We will continue to navigate the current challenging economic environment with market insights and dedicated customer care.”

“Additionally, we are proud to have a strong CAR ratio as this demonstrates our ability to withstand the changes in the external environment and deliver excellence to our customers consistently”, said CEO K. M. M. Jabir.

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