The Board of Directors of ORIX Leasing Pakistan Limited (OLP) approved the company's financial statements for the year ended June 30, 2015 in their meeting held on Monday. OLP recorded profit after tax of Rs 671 million (2014: Rs 516 million) showing a growth of 30 percent over previous year. Earnings per shares increased to Rs 8.18 per share as against 6.29 in previous year. Return on equity was higher at 20.9 percent as compared to 18.5 percent last year.
Based on these results, OLP's Board of Directors has proposed an enhanced cash dividend of 45 percent (2014: 35pc) for the financial year ended June 30, 2015. The company's assets base recorded an increase of 16 percent and was reported at Rs 28.3 billion and equity as at June 30, 2015 stood at Rs 3.4 billion. Over the years, OLP has recorded significant improvement in the quality of its assets portfolio and impaired lending has declined.
The company has adequate funding available to meet its growth objectives and is well placed to handle any unexpected contingencies owing to high level of reserves and unutilised approved credit line. The Certificate of Deposits provided diversified base for funding and have registered good growth closing at Rs 7.0 billion Share price of company has depicted an upward trend during financial year 2015 and recorded substantial increase of 82 percent.-PR
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