Commercial credit's revenues gone up.....

kumarweerarathne · 1 Commercial credit's revenues gone up..... Sun May 20, 2012 9:46 pm

kumarweerarathne

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its nt eye catching it seems.... pale

Rajaraam · 2 Re: Commercial credit's revenues gone up..... Sun May 20, 2012 10:30 pm

Rajaraam

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kumarweerarathne wrote:its nt eye catching it seems....

kumar,

I think you are correct. Their performance is highly encouraging.

Net income for the Quarter has increased from Rs.497 mn to 1067 mn by 115%
Profit Before Tax for the Quarter has increased from Rs.201 mn to 733 mn by 265%
Net Profit for the Quarter has increased from Rs 77 mn to 551 mn by 609%

EPS= Last year...Rs. 0.71 (annualised)
EPS= This year...Rs. 5.05 (annualised)

According to above figures and considering the average price of a share as 15.00 PE could be calculated as 3. Very attractive.
Income Tax( due to unknown reason) they have caculated at around 62% last year. Otherwise EPS for last year would have been much higher.
And for the year ending 31.03.2012 income tax has calculated st 25%.This a significant reason for huge increase in net profit compared to last year.

However it is not advisable to take investment decissions purely on finnacials as we know all finance companies will have to face difficult situation in the coming quarters due to duty increase and LKR depriciation.

sriranga · 3 Commercial Credit PAT up 1259 % to Rs. 816.5 million Mon May 21, 2012 1:46 am

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With remarkable growth levels in its Asset Base, Deposit Base and Profit after Tax, Commercial Credit PLC proudly declared its provisional financial statements for the recently concluded financial year 2011/2012.

The Net Interest Income claimed a growth of 153 percent in the financial year under consideration from Rs. 0.7 billion in the financial year 2010/2011 to Rs. 1.8 billion. Profit-before-Tax recorded an exceptional growth of 320 percent from Rs. 0.3 billion in the financial year 2010/2011 to stand at Rs. 1.2 billion.

The tremendous growth in Profit-after-Tax stands at 1,259 percent from Rs. 60 mn in the preceding financial year to Rs. 816.5 million. This underscores Commercial Credit PLC’s success in realising the hidden potential of Sri Lanka’s finance industry.

Commercial Credit PLC’s Asset Base increased by 97percent. It also enjoyed a growth in the Fixed Deposit Base amounting to 76 percent taking the figure to Rs. 6.8 billion from 3.8 billion in the financial year of 2010/2011. Equity investors of Commercial Credit PLC enjoyed an impressive figure of Earnings per Share amounting to Rs. 3.74 compared to the same of Rs. 0.28 in the preceding financial year.

Cementing its reputation as a premier financial institution benchmarking the highest international standards of service and operation, Commercial Credit PLC was adjudged the "Best Finance Company in Asia" at the international UDC Business Awards in Malaysia.

Commercial Credit PLC enjoys the increasing trust of the public of Sri Lanka and this is demonstrated by the remarkable growth in the Fixed Deposit Base amounting to 76 percent that stands at Rs. 6.8 billion at the end March 2012.

Commercial Credit continues its record breaking success story as it spreads its reach across Sri Lanka, stamping its unique brand of service and corporate leadership in cities across the country. The company’s rapid turnaround to become one of the most talked about success stories in recent times has attracted the trust, recognition and respect of the finance industry.

Commercial Credit continues to extend its strategic vision across the more crucial years to come in the finance industry despite exceptional short term accomplishments.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=52367