Expolanka gains Rs. 11 bn on exchange rate alone, Quarterly profit to Rs. 31 bn

The Expolanka Group posted a revenue of Rs. 242.bn (YoY + 220%), a Gross Profit of Rs. 46.0bn (YoY + 287%) and a profit after tax of Rs. 31.03bn (YoY + 680%) for the quarter ending March 31, 2022.

The depreciation of the Sri Lankan Rupee resulted in an exchange gain of Rs. 11.6bn whilst increasing the company’s Net Asset Value by Rs 26.5bn on a YTD basis.

The Annual Revenue was Rs. 694bn (+217%) and a PAT of Rs. 72.7bn (+389%). Over 95% of this revenue has been derived from international operations, reflecting the global nature of the organization’s business model and portfolio.

The company has delivered an exceptional ROE of 95.9% as of March 2022.

A statement from Group CEO Hanif Yusoof stated, “Whilst the North American trade businesses remained the key driver of business, the European and Intra-Asia businesses remained resilient with stable growth during the quarter.”