LOLC records Rs. 7.0 b PAT

The LOLC Group recorded a post tax profit of Rs. 7.0 b in the financial year 2010/11 as against Rs. 2.4 b in the previous year, an increase of 194 percent. The lending portfolio grew by 48 percent to reach Rs. 112 b from Rs. 75 b in the corresponding year. The Non-Performing Loan (NPL) ratio is approximately 2 percent, a laudable figure in comparison with the industry average of 7 percent.

The contribution from the leisure sector was Rs. 1.4 b while the Agriculture and Plantations contributed Rs. 5.1 b to group revenue.

Lanka ORIX, Finance Company Limited (LOFC)'s total deposit base grew by 72 percent to reach Rs. 17.4 b from Rs. 10 b last year.

LOFC is fully geared to become the number one finance company in the country.