Prime Finance PLC reported unaudited earnings results for the first quarter ended June 30, 2018. For the quarter, the company reported net interest income of LKR 101,443,298 compared to LKR 37,300,180 a year ago. Net operating income was LKR 111,870,809 against net operating loss of LKR 1,958,088 a year ago. Profit from operations before taxation was LKR 35,906,129 against loss of LKR 39,948,453 a year ago. Profit for the period was LKR 29,683,767 or LKR 0.82 per share against loss of LKR 39,948,453 or LKR 1.78 per share of prior year. Net cash used in operating activities was LKR 472,356,158 against LKR 152,543,067 of prior year. Acquisition of property, plant & equipment was LKR 2,452,619 against LKR 1,473,250 of prior year. Net Fee and Commission Income was LKR 6,950,220 against LKR 1,374,541 of prior year. Interest Income was LKR 193,583,628 against LKR 75,562,371 of prior year. Net Assets Per Share as at June 30, 2018 was LKR 17.85.

For the quarter, the company reported impairment charges for loans and other credit losses of LKR 16,812,171 against LKR 41,532,106 a year ago.