Prabhu Finance Co Ltd has declared a net profit of Rs 23.2 million for fiscal year 2008/09. Addressing the company´s annual general meeting on Wednesday, its chairman Devi Bhattachan said this was a 40.49 percent rise on the net profits earned in fiscal year 2007/08.
The shareholders also approved the board of directors´ proposal for a 2:1 rights issue to raise paid-up capital to Rs 360 million and to distribute a cash dividend of 10 percent. The company collected Rs 2.5 billion in deposits and mobilized Rs 2.51 billion in loans and advances.
Source:
myrepublica.com
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