Orient Finance registers robust growth in FY22

Tuesday, 7 June 2022 03:41 - - {{hitsCtrl.values.hits}}

Rises above challenges to conclude year with 143% growth in pre-tax profits

Orient Finance said yesterday its strong fundamentals and customer-centric business model continued to empower the company to overcome market challenges and register steady growth through the FY22.

The company reported Rs. 470.7 million in Profits Before Tax (PBT) for the year ending 31 March 2022, recording an outstanding growth of 143.20%, year-on-year. Net operating income stood at Rs. 1.7 billion, growing by 38.8% over the previous year. The Company concluded the year with assets of Rs. 17.8 billion, up from Rs. 14.9 billion in FY21.

“Orient Finance has been able to rise above ongoing challenges and maintain its growth momentum through FY 2021 – 22 to continue delivering greater value to all stakeholders. This has been made possible by our team’s steadfast commitment to catering to the evolving needs of our customers through various stages of their lives and shifting market realities, through our sound investment strategy and tailor-made financial solutions,” said Chairman Rajendra Theagarajah. “Building on our strong fundamentals as part of the trusted Janashakthi Group, we look forward to making steady and sustained progress along this growth trajectory,” he added.

Director and Chief Executive Officer K.M.M. Jabir said: “Our customers have always inspired us through their unwavering faith in the brand and the support they continue to extend to us, especially during the current health and financial crisis. This together with the ingenuity, commitment and relentless efforts of our team members gave us the strength to deliver such phenomenal performance in these trying times. Encouraged by these results, we would like to recommit ourselves to creating unmatched value for all our stakeholders.”