Sliding

November 14, 2006 (LBO) – High taxes have hit profits of DFCC on the September quarter but six months profits are still higher than the previous year. After tax profits of DFCC group after minority interest fell to 395 million rupees for the latest quarter down from 451 million for the same period last year.

At only bank level after tax profits fell to 257 million rupees from 338 million.

However in the six months to September, profits at bank level was 475 million rupees (up from 456 million), while at group level it was 795 million (up from 673 million). The Financial value added tax charge rose to 84.3 million rupees for the quarter (up from 9.2) while the income tax charge rose of 155 million (up from 124 million).