Expolanka records Rs. 697m net profit in Q3

Expolanka Holdings PLC recorded a revenue of Rs. 13.2 billion and a net profit of Rs.697 million for the third quarter of the financial year 2013-14 achieving a YOY growth of 78 percent to the equity shareholders.

The Net Profit attributable to Equity holders of the Group reached Rs. 680 million in comparison to the Rs.191 million during the corresponding period last year.

Group CEO of Expolanka Holdings, Hanif Yusoof said, "This quarter we achieved tremendous progress on our restructuring plans and divested several non-core businesses which has enabled us to unlock shareholder value. Timely divesting of these non-focus areas of businesses have enabled us to unlock value for our shareholders and redirect funds and capital towards higher ROE businesses."