Orix Leasing Pakistan Limited’s financial results for the year ended June 30, 2011

Karachi: We wish to inform you that the Board of Directors of our Company in their Meeting held at 2.00 p.m. on September 22, 2011 at the Company’s registered office, recommended the following:

1. Gash Dividend

A cash dividend for the year ended June 30, 2011 at Rs. 1 per share i.e. 10%.

 

2. Bonus Shares Nil
3. Right Shares Nil
4.  Any Other Entitlement None
5. Any Other Price Sensitive Information None

 

Financial Results

The financial results of the Company are as follows:

 

2011

2010

Revenues

Rupees

Rupees

Income from operations
Finance lease and installment loans 2,109,525,438  2,073,410,840
Operating leases  648,814,882 62,848,206
Mark-up on term / factoring finance 138,865,009 143,487,607
 ————- ————-
2,897,205,329 2,842,746,653
Income from other operating activities
Other operating income 188,801,737 395,361,623
Share of profit of equity accounted undertakings 103,995,529 142,713,036
Gain on sale of equity accounted undertaking  - 376,478,004
————- ————-
292,797,266 914,552,663
————- ————-
3,190,002,595 3,757,299,316
Expenses
Finance cost 1,795,570,317 2,064,426,443
Administrative and general expenses 548,630,543 599,756,495
Direct cost of leases 399,549,216 386,990,716
 ————-  ————-
2,743,750,676  3,051,173,654
————- ————-
446,252,519 706,125,662
Allowance for potential lease, installment and other loan losses – net 212,805,338 523,357,891
Impairment of assets 6,861,925 56,811,591
 ————- ————-
Profit before Tax  226,585,256 125,956,180
Taxation  81,912,755 21,472,347
 ————-  ————-
Profit for the Year  144,672,501 104,483,833
 ————-  ————-
Earnings per share – Basic and diluted  1.76 1.27

 

The Annual General Meeting (AGM) of the Company will be held on October 22, 2011 at 10:00 am.at Beach Luxury Hotel, M.T. Khan Road, Karachi.

The Share Transfer Books of the Company will be closed from October 16, 2011 to October 22, 2011 (both days inclusive). Transfers received at the Registrars, Messrs Nobel Computer Services (Private) Limited, First Floor, House of Habib Building (Siddiqsons Tower), 3-Jinnah C.H. Society, Main Shahrah-e-Faisal Karachi at the close of business on October 15, 2011 will be treated in time for the purpose of attending the meeting.

For more information, contact:
ORIX Leasing Pakistan Limited
ORIX Building,
Plot No. 16, Sector No. 24,
Korangi Industrial Area,
Karachi- 74900
Tel: (021) 3514 4028-40
UAN: 111 24 24 24
Fax: (021) 3514 4002