Vallibel Finance increases profits

Vallibel Finance released its financial results for 2010 and 2011, marking its first full year in the public domain since its highly successful IPO in April 2010 with phenomenal overall growth.

The company recorded dramatic increases in assets, deposits and profits in the year ending March 31, 2011, as well as a drastically improved Non Performing Loan (NPL) ratio believed to be one of the industry's best this year.

Vallibel Finance's gross income of Rs 425.89 mn in the financial year 2009 and 2010 grew to an impressive Rs 639.87 mn this year, an increase of 50 percent.

The company's pre-tax profits too followed course, recording a 116 percent increase to Rs 231.6 mn in 2010 and 2011 from last year's profit of Rs 107.1 mn, while profit after tax came to Rs 107.9 mn, climbing 159 percent from the previous year's Rs 41.6 mn.