Asia Asset Finance PLC (AAF) has reported a profit-before-tax (PBT) of Rs. 294.8 million, reflecting a 123% year-on-year growth compared to Rs. 132.2 million in 1Q24, and a profit-after-tax (PAT) of Rs. 181 million, representing a 57% year-on-year (y-o-y) increase from Rs. 115.8 million in 1Q24, for the first quarter ended 30 June.

Meanwhile, the healthy 57% rise in PAT reflects not only stronger operating performance but also effective management of operational costs and financing costs. The company’s asset base has now reached Rs. 41.8 billion, and with strong momentum across all its business segments, AAF is firmly on course to achieve its next significant milestone – the Rs. 50 billion mark – in the near future.

Asia Asset Finance’s footprint continued to grow during the first quarter, with the opening of four new branches, strengthening its presence in key regions and ensuring greater accessibility for customers.

Asia Asset Finance PLC Chief Executive Officer Rajiv Gunawardana said: “Our Q1 results are not just about the numbers, they reflect our strategy in action. We are expanding our reach, strengthening our portfolio, and positioning Asia Asset Finance to become a valued financial service provider for the people of Sri Lanka. As we look ahead, our focus remains clear: to continue delivering value to our customers and shareholders while contributing to Sri Lanka’s economic growth.”

Backed by the global strength of its parent company, Muthoot Finance, the world’s largest gold financing company, Asia Asset Finance benefits from deep international expertise while remaining firmly rooted in Sri Lanka’s financial sector.