Swarnamahal Financial Services Limited reported audited earnings results for the year ended March 31, 2014. For the year, the company reported gross income of LKR 216 million compared to LKR 1,340 million reported a year ago. Operating loss before value added tax and income tax expenses was LKR 1,228 million compared to operating profit before value added tax and income tax expenses of LKR 220 million reported a year ago.

Net loss after tax was LKR 1,245 million or LKR 2.49 per basic share compared to profit after tax of LKR 122 million or LKR 0.24 per basic share reported a year ago. Return on average assets was a negative of 23.5% compared to 2.2% reported a year ago. Net asset value per share was a loss of LKR 1.61 compared to net asset value per share of LKR 0.86 as at the end of fiscal 2013.

Net interest income was LKR 244.24 million compared to LKR 536.17 million reported a year ago. Net loss before tax was LKR 1,242 million compared to profit before tax of LKR 197.92 million reported a year ago. Total operating loss was LKR 598.16 million compared to total operating income of LKR 545.5 million reported a year ago.

Net cash from operating activities was LKR 278.72 million compared to LKR 128.34 million reported a year ago. Additions to property, plant and equipment was LKR 0.94 million compared to LKR 12.45 million reported a year ago.