Fancy Finance

Jan 23, 2012 (LBO0 – Sri Lanka’s Senkadagala Finance said net profit rose 106 percent to 146 million rupees in the December 2011 quarter from a year ago. Total assets of the company were 10 billion rupees as at December 31, 2011, up from 6.9 billion rupees as at March 31, 2011.

Since getting listed on the stock exchange in March 2011 through the introduction process, Senkadagala Finance has only traded via crossings of off-market private deals, with no trades taking place on the normal board, analysts said. Earnings per share for the quarter rose to 2.73 rupees from 1.32 rupees the year before, according to its interim accounts filed with the Colombo stock exchange.

Total income of the finance company for the December 2011 quarter rose 28 percent to 541 million rupees.

Interest income rose 30 percent to 483 million rupees and interest expenses rose 24 percent to 205 million rupees enabling net interest income to rise 35 percent to 277 million rupees

Net interest margin of Senkadagala Finance as at December 31, 2011 fell to 14.7 percent from 16.2 percent a year ago.

Net profit in the nine months to December 31, 2011 rose 126 per