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Sri Lanka’s People’s Leasing & Finance Sept net down 9.8-pct

Oct 26, 2016 06:41 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT – People’s Leasing & Finance’s net profit for the September 2016 quarter fell 9.8% to Rs1.1 billion with lower earnings from its leasing and higher purchase business although interest income from loans grew.

Net interest income of the firm, a subsidiary of People’s Bank, fell 2.3% to Rs2.6 billion with interest income up 19.2% to Rs5.45 billion, while interest expenses rose 49.2% to Rs2.85 billion.

Net earned premiums rose 12.2% to Rs917 million and net fee and commission income rose 41.5% to Rs167 million, interim accounts filed with the stock exchange showed.

There was a sharp increase in net trading income to Rs78 million and a 44% increase in personnel expenses to Rs714 million.

People’s Leasing & Finance’s accounts showed value added tax rose 26.2% to Rs178 million.

Earnings per share for the September quarter were 74 cents. For the six months ended 30 September 2016 EPS was Rs1.44. 
(COLOMBO, October 26, 2016)


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