Sri Lanka Vallibel Power March net up 57-pct

ComBank MD S. Renganathan (Centre) introducing the app to CB Governor Indrajit Coomaraswamy in the presence of (from L) ComBank Manager - Card Centre Seevali Wickramasinghe, Head of Card Centre Thusitha Suraweera, Deputy GM – Marketing Hasrath Munasinghe, CB Assistant Governor Ananda Jayalath and CB Director - Payments & Settlements Dharmasri Kumaratunge

May 10, 2011 (LBO) – Vallibel Power Erathna, a Sri Lankan mini-hydro power firm, said March 2011 quarter net profit rose 57 percent to 44.6 million rupees from a year ago. Annual sales rose 22 percent to 534 million rupees while basic earnings per share for the year were 56 cents compared with 55 cents the year before. Sales for the quarter rose 123 percent to 65 million rupees while basic earnings per share were 06 cents against 04 cents the previous year, according to interim results filed with the stock exchange.

The company is one of the listed firms in the Vallibel group owned by businessman Dhammika Perera.

Vallibel Power Erathna’s net profit for the financial year ending March 31, 2011 rose two percent to 422 million rupees from a year ago.