Divasa Finance records outstanding profits
Divasa Finance Ltd, recorded an outstanding performance in the
financial year ended March 31, 2011. According to the audited annual
report the company recorded a net profit after tax of Rs 68.5 m as
against Rs 1.8 m the previous year. The company has been able to contain
costs in relation to the revenue as seen from the operating
costs/revenue ratio of 29 percent. The risk-weighted capital adequacy
ratio was 35 percent well above the required 10 percent.
The Director/CEO of Divasa Finance Limited Lakshman Uduwara said, "We
are happy to announce this remarkable performance which is the best
recorded in our six -year history. We recorded significant growth in our
advances portfolio with a wider product spectrum giving enhanced income.
We offer flexible and fast leases, hire purchase, short term trade
finance, bills/cheques discounting, short and medium term loans in
addition to margin trading on shares for which we received the licence
from the Securities Exchange Commission. Therefore, we have increased
our sources of income.