ASIA ASSET FINANCE PLC INTERIM FINANCIAL STATEMENTS | ||||
ASIA ASSET FINANCE PLC | ||||
For the quarter | ended | 31st M | arch 20 | 22 |
CONTENTS | |
Statement of Comprehensive Income | 01 |
Statement of Financial Position | 02 |
Statement of Changes in Equity | 03 |
Statement of Cash Flows | 04 |
Segmental Analysis | 05 |
Explanatory Notes | 06 |
Shareholders' Information | 07 & 08 |
Analysis of financial instruments by measurement basis | 09 |
Information on Debenture | 10 |
Corporate Information | 11 |
ASIA ASSET FINANCE PLC | Page 1 | |||
STATEMENT OF COMPREHENSIVE INCOME | ||||
FOR THE PERIOD ENDED 31ST MARCH, 2022 | ||||
Change | Change | |||
% | % | |||
Interest Income | 2.86% | 2,626,394,467 | -1.9% | |
Interest Expenses | (324,265,344) | 9.79% | (1,462,362,855) | -9.4% |
Net Interest Income | 332,533,063 | -3.90% | 1,164,031,612 | 7.5% |
Net Trading Gain/(Loss) on Equity Securities | - | 0.00% | - | 0.00% |
Other Operating Income | 131,006,389 | 86.10% | 328,420,134 | 83.9% |
Less: Operating Expenses | ||||
Personnel Costs | (80,242,452) | 23.15% | (268,929,048) | 21.7% |
Provision for Staff Retirement Benefits | (863,721) | -93.33% | (7,163,721) | -15.5% |
General and Administration Expenses | (218,148,405) | -0.42% | (701,570,915) | 12.7% |
Impairment Charge for Lease Rentals Receivable, Hire Purchase and | (110,327,251) | 59.02% | (382,940,886) | 28.7% |
Loans and Advances | ||||
Operating Profit before Value Added Tax on Financial Services | 53,957,623 | 33.13% | 131,847,176 | 81.0% |
Value Added Tax on Financial Services | (12,300,000) | -51.22% | (45,100,000) | -19.1% |
Profit Before Taxation | 41,657,623 | 58.04% | 86,747,176 | 133.1% |
Income Tax (Expenses) / Reversal | (14,051,058) | 58.56% | (41,551,058) | 102.8% |
Profit for the Period | 27,606,565 | 57.77% | 45,196,118 | 160.9% |
Actuarial Loss on Retirement Benefit Liability | 4,379,407 | - | 4,379,407 | - |
Income Tax on Components of Other Comprehensive Income | 1,051,058 | 1,051,058 | - | |
Other Comprehensive Income for the Period Net of Tax | 5,430,465 | - | 5,430,465 | - |
Total Comprehensive Income for the Period | 33,037,030 | 36.21% | 50,626,583 | 135.7% |
Earnings Per Share - Basic | 0.22 | 57.77% | 0.36 | 163.7% |
* The above figures are provisional and subject to audit. | #DIV/0! | |||
* Figures in brackets indicate deductions. |
117985194
For the quarter ended
31.03.2022
31.03.2021
LKR
LKR
Unaudited*
Unaudited*
675,563,513 (355,996,304) 319,567,209
656,798,407
-
243,806,612
(98,819,753)
(57,644)
(217,223,729) (175,438,424)
71,834,271
(6,000,000)
65,834,271 (22,279,432) 43,554,839
1,164,300 279,432 1,443,732 44,998,572
0.35
For the Year Ended
31.03.2022
31.03.2021
LKR
LKR
Unaudited*
Audited*
2,576,080,611 (1,324,669,622)
1,251,410,989
-
603,933,288
(327,268,082)
(6,051,551)
(790,435,374)
(492,904,300)
238,684,969
(36,500,000)
202,184,969
(84,279,432) 117,905,537
1,164,300 279,432 1,443,732 119,349,269
0.95
ASIA ASSET FINANCE PLC STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH, 2022
Page 2
0.4140
31.03.2022
LKR Unaudited*
31.03.2021
LKR Audited*Change %ASSETS
Cash and Cash Equivalents
Investment in Reverse Repurchase Agreements Against Treasury Bills and Bonds
Financial assets at amortized cost - Loans and advances Financial assets at amortized cost - Lease rentals receivable and hire purchase
Other Assets
Income Tax Receivable
Advances, Deposits and Prepayments
Financial assets - Fair value through other comprehensive income
Right-of-use assets
Property, Plant and Equipment Investment Property
Deferred Tax Assets Intangible Assets Total Assets
Due to Customers # Subordinated Liabilities
Financial liabilities - Due to banks 38,990,640
LIABILITIES
Other Liabilities 80,227,351
Financial liabilities - Other borrowed funds Lease liability
Retirement Benefit Liability Total Liabilities
SHAREHOLDERS' FUNDS Stated Capital
Retained Earnings
Statutory Reserve Fund and Other Reserves Total Equity
Total Equity and Liabilities
Net Assets Per Share
* Figures in brackets indicate deductions.
I certify that the above Interim Financial Statements are in compliance with the requirements of the Companies Act No. 7 of 2007 and give a true and fair view of the state of affairs of Asia Asset Finance PLC as at 31st March 2022 and its profit for the Period ended 31st March 2022.
………Sgd ……………… .
Geethika Elwalage
Deputy General Manager - Finance
1,397,632,551
989,433,452
1,006,233,476
654,692,844
14,740,388,540
1,072,911,109
123,152,103
27,698,763
104,518,027
506,659
196,496,795
184,377,808
359,055,285
101,422,647
10,198,262,863
2,212,534,894
21,637,319
27,698,763
252,083,662
506,659
217,810,352
156,436,174
376,158,647
185,422,647
44,194,279 19,341,788,018
40,951,790 15,350,430,089
0
The Board of Directors is responsible for the preparation and presentation of these Interim Financial Statements. Approved and Signed for and on behalf of the Board:
………Sgd ……………… . | ………Sgd ……………… . |
R.J.A. Gunawardena | Thusitha Perera |
Director/CEO | Director/Chairman of the Audit Committee |
18th April 2022 | |
Colombo | |
* The above figures are provisional and subject to audit. |
38.90%
51.13%
44.54%
-51.51%
469.17%
0.00%
-58.54%
0.00%
-9.79%
17.86%
-4.55%
-45.30%
7.92% 26.00%
ASIA ASSET FINANCE PLC STATEMENT OF CHANGES IN EQUITY AS AT 31ST MARCH, 2022
Page 3
Stated Capital
Ordinary Share
Capital
Rs.
Balance as at 1st April, 2020 (Audited)
Profit for the year
Other comprehensive income (net of tax)
Transaction with equity holders recognized directly in equity
Proceeds from right issue of ordinary shares Transferred to/from reserves During the Period
Balance as at 31st March, 2021 (Audited)
Balance as at 1st April, 2021 (Audited*)
Profit for the year
Other comprehensive income (net of tax)
Total comprehensive income for the yearTransaction with equity holders recognized directly in equity
Proceeds from issue of preference shares Transferred to/from reserves During the Period
Balance as at 31st March, 2022 (Unaudited*)
* The above figures are provisional and subject to audit.
* Figures in brackets indicate deductions.
1,791,478,691
-
- -
1,791,478,691
1,791,478,691
1,791,478,691 #
-
-
Statutory | ||||
Preference Share | General | Reserve | Accumulated | |
Capital | Reserve | Fund | Profit/(Loss) | Total |
Rs. | Rs. | Rs. | Rs. | Rs. |
3,000,000 | 73,766,353 | 303,207,769 # | 2,171,452,813 | |
- | - | 45,196,118 | 45,196,118 | |
5,430,465 | 5,430,465 | |||
- | 2,531,329 | (2,531,329) | - | |
- # | 2,531,329 # | (2,531,329)# | - | |
3,000,000 # | 76,297,682 # | 351,303,022 # | 2,222,079,395 | |
3,000,000 | 76,297,682 | 351,303,022 | 2,222,079,395 | |
- | - | 119,349,269 | 119,349,269 | |
- | - | - | ||
5,967,463.47 | (5,967,463.47) | 413,985,110 | ||
- | - # | - | ||
3,000,000 # | 82,265,146 # | 464,684,828 # | 2,755,413,775 |
-
-
-
-
- -413,985,110.00
413,985,110 #
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Asia Asset Finance Ltd. published this content on 19 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2022 10:23:19 UTC.
