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.