Sri Lanka Softlogic Finance Sept quarter swings to Rs101mn loss

EconomyNext reports Softlogic Finance PLC posted a loss of Rs. 100.6 million in the quarter ending September 30, 2026, against earnings of Rs. 84.3 million for the same quarter in the previous year. EconomyNext says annualised basic loss per share was Rs. 0.42, compared with annualised earnings of Rs. 0.35.

EconomyNext reports total income was Rs. 319.7 million, down 18.7% from Rs. 393.1 million a year earlier, largely because the earlier period included a one-time Rs. 140.1 million benefit from removing financial assets from recognition. Fee and commission receipts dropped 53.9% to Rs. 14.7 million, while other operating income grew 87.8% to Rs. 19.2 million.

EconomyNext reports interest income increased 35.5% to Rs. 285.8 million, attributing the rise to expanded personal and gold loan advances. Interest expenses rose 23.4% to Rs. 150.7 million as the company gathered more customer deposits, leaving net interest income 52.1% higher at Rs. 135.1 million.

EconomyNext reports impairment shifted to a net expense of Rs. 8.9 million from a prior-year reversal of Rs. 83.7 million. Net operating income consequently fell 54.9% to Rs. 160.1 million. Staff costs rose 18.3% to Rs. 131.3 million, and overall operating expenses increased 9.8% to Rs. 252.3 million.

EconomyNext reports the company moved from operating profit before tax of Rs. 124.7 million to a Rs. 92.1 million loss. The outlet also reports VAT on financial services and SSCL was down 78.9% to Rs. 8.5 million; the supplied report ends before providing additional details.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.