Asia Asset Finance Limited Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 23, 2017 at 06:52 pm
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Asia Asset Finance Limited reported unaudited earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported net interest income of LKR 293,901,694 against LKR 173,513,091 a year ago. Profit before taxation was LKR 89,532,526 against LKR 51,119,058 a year ago. Profit for the period was LKR 79,032,526 or LKR 0.38 per basic share against LKR 43,736,760 or LKR 0.21 per basic share a year ago.
For the nine months, the company reported net interest income of LKR 791,840,277 against LKR 461,614,416 a year ago. Profit before taxation was LKR 223,774,649 against LKR 142,726,398 a year ago. Profit for the period was LKR 192,274,649 or LKR 0.31 per basic share against LKR 120,579,504 or LKR 0.19 per basic share a year ago. Net cash used in operating activities was LKR 737,892,467 against LKR 737,518,700 a year ago.
Asia Asset Finance PLC is a Sri Lanka-based company, which is a subsidiary of Muthoot Finance Ltd and a fully licensed, deposit-taking institution registered with the Central Bank of Sri Lanka. The Company operates through six segments: Finance lease, Hire purchase, Gold Loan, Loans and advances, Investment, and Other. The principal activities of the Company comprise granting leases, hire purchasing, mortgage loans, personal loans, group personal loans, gold loans, micro finance loans, pledge loans, cheque and invoice discounting and mobilization of public deposits. The Companyâs products and services include gold loans, fixed deposits, leasing, foreign exchange, and mortgage. Its branch network includes Vavuniya, Oddusuddan, Changani, Nelliady, Beruwala, Pundaluoya, Mathugama, Udappuwa, Monaragala, Kinniya, Mahiyanganaya, Puttalam, Kalawanchikudi, Badulla, Kalpitiya, Maskeliya and other.
ASIA ASSET FINANCE PLC 
