Singer Finance (Lanka) PLC announced earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported net interest income of LKR 245,122,000 against LKR 234,714,000 a year ago. Operating profit before provision for loan losses and tax was LKR 156,848,000 against LKR 121,273,000 a year ago. Profit before tax was LKR 105,830,000 against LKR 92,152,000 a year ago. Net profit for the period was LKR 80,951,000 or LKR 0.49 per basic share against LKR 72,545,000 or LKR 0.44 per basic share a year ago.

For the nine months period, the company reported net interest income of LKR 726,425,000 against LKR 683,921,000 a year ago. Operating profit before provision for loan losses and tax was LKR 447,424,000 against LKR 324,873,000 a year ago. Profit before tax was LKR 269,006,000 against LKR 271,975,000 a year ago. Net profit for the period was LKR 198,491,000 or LKR 1.20 per basic share against LKR 202,615,000 or LKR 1.55 per basic share a year ago. Net cash generated from operating activities was LKR 114,277,000 against net cash used in operating activities of LKR 814,497,000 a year ago. Acquisition of Property Plant & Equipment was LKR 23,662,000 against LKR 25,895,000 a year ago. Cash flows incurred on Software Development were LKR 9,653,000 against LKR 10,409,000 a year ago.

For the quarter, the company reported impairment charges for loan and other losses LKR 46,749,000 against LKR 24,499,000 a year ago.