ASIA ASSET FINANCE PLC CONTENTS
Statement of Review of Financials | i |
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 |
Information on Debenture | 09 |
Analysis of financial instruments by measurement basis | 10 |
Corporate Information | 11 |
Asia Asset Finance PLC records a strong bottom line growth amidst prudent provisioning and an emerging economic crisis.
AAF has performed above target expectations by reporting a PAT of LKR 229 million for the 9 months ended and following are the highlights of AAF performance.
9-month Net Interest Income grew by 34.87% to LKR 428.4 million, up from LKR 317.7 million in the same quarter (Q3) in the year prior.
Impairment provisioning increased by 16.78% to LKR 370.7 million, up from LKR 317.4 million for 9 months.
Profit Before Tax (PBT) of LKR 109.2 million for the quarter under review, up 66.19%, from LKR 65.7 million in the corresponding period (Q3).
Profit for the period that grew by a very remarkable 99.45% to LKR 79.2 million, up from LKR 39.7 million in Q3 of FY 2021/22.
Total assets up 21.89% to LKR 23.5 billion.
In addition to the above achievements the company expanded its branch network by a further 15 branches bringing up the total number of branches to
70. The continuous expansion in our Gold Loan portfolio has ensured that our secured portfolio has reached 87.5%, out of which 76% consists of Gold Loans.
ASIA ASSET FINANCE PLC | Page 1 |
STATEMENT OF COMPREHENSIVE INCOME | |
FOR THE QUARTER ENDED 31ST DECEMBER, 2022 |
Interest Income
Interest Expenses
Net Interest Income
Net Trading Gain/(Loss) on Equity Securities
Other Operating Income
Less: Operating Expenses
Personnel Costs
Provision for Staff Retirement Benefits General and Administration Expenses
Impairment Charge for Lease Rentals Receivable, Hire Purchase and Loans and Advances
Operating Profit before Value Added Tax on Financial Services
Value Added Tax on Financial Services
Profit Before Taxation
Income Tax (Expenses) / Reversal
Profit for the Period
Actuarial Loss on Retirement Benefit Liability
Income Tax on Components of Other Comprehensive Income
Other Comprehensive Income for the Period Net of Tax Total Comprehensive Income for the Period
Earnings Per Share - Basic
Earnings Per Share - Diluted
For the quarter ended
31.12.2022 | 31.12.2021 | |
LKR | LKR | Change |
Unaudited* | Unaudited* | % |
1,469,430,918 | 647,421,642 | 126.97% |
(1,041,011,248) | (329,762,360) | 215.69% |
428,419,670 | 317,659,282 | 34.87% |
- | - | 0.00% |
134,031,982 | 182,955,444 | -26.74% |
(92,576,981) | (81,087,040) | 14.17% |
(1,800,000) | (1,200,000) | 50.00% |
(244,504,201) | (206,039,128) | 18.67% |
(100,336,842) | (137,561,620) | -27.06% |
123,233,627 | 74,726,938 | 64.91% |
(14,000,000) | (9,000,000) | 55.56% |
109,233,627 | 65,726,938 | 66.19% |
(30,000,000) | (26,000,000) | 15.38% |
79,233,627 | 39,726,938 | 99.45% |
- | - | - |
- | - | - |
- | - | - |
79,233,627 | 39,726,938 | 99.45% |
0.64 | 0.32 | 99.37% |
0.48 | 0.24 | 99.45% |
For the Nine Months Ended
31.12.2022 | 31.12.2021 | |
LKR | LKR | Change |
Unaudited* | Unaudited* | % |
3,780,335,522 | 1,794,335,247 | 110.68% |
(2,439,240,754) | (968,554,565) | 151.84% |
1,341,094,768 | 825,780,682 | 62.40% |
- | 0.00% | |
455,016,594 | 466,258,177 | -2.41% |
(302,811,536) | (229,642,237) | 31.86% |
(5,400,000) | (4,800,000) | 12.50% |
(748,816,579) | (573,280,046) | 30.62% |
(370,739,739) | (317,465,877) | 16.78% |
368,343,507 | 166,850,700 | 120.76% |
(49,000,000) | (30,500,000) | 60.66% |
319,343,507 | 136,350,700 | 134.21% |
(90,000,000) | (62,000,000) | 45.16% |
229,343,507 | 74,350,700 | 208.46% |
- | ||
- | ||
- | - | - |
229,343,507 | 74,350,700 | 208.46% |
1.85 | 0.60 | 207.77% |
1.38 | 0.45 | 208.46% |
- The above figures are provisional and subject to audit.
- Figures in brackets indicate deductions.
ASIA ASSET FINANCE PLC | Page 2 |
STATEMENT OF FINANCIAL POSITION | (0.5276) |
AS AT 31ST DECEMBER, 2022 |
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
LIABILITIES
Financial liabilities - Due to banks
Other Liabilities
Financial liabilities - Other borrowed funds
Lease liability
Due to Customers
-
Debenture
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.
31.12.2022 | 31.03.2022 | Change |
LKR | LKR | % |
Unaudited* | Audited* | |
1,866,143,673 | 1,397,632,551 | 33.52% |
1,473,392,143 | 989,433,452 | 48.91% |
18,705,183,048 | 14,729,182,119 | 26.99% |
535,739,995 | 1,084,117,530 | -50.58% |
113,425,275 | 123,152,101 | -7.90% |
- | 27,698,763 | -100.00% |
78,856,016 | 104,518,028 | -24.55% |
506,659 | 506,659 | 0.00% |
184,559,149 | 196,496,795 | -6.08% |
187,880,756 | 184,377,810 | 1.90% |
323,671,188 | 359,055,285 | -9.85% |
56,422,647 | 101,422,647 | -44.37% |
49,904,132 | 44,194,279 | 12.92% |
23,575,684,681 | 19,341,788,019 | 21.89% |
10,098,787 | 38,990,640 | -74.10% |
255,063,472 | 80,227,359 | 217.93% |
6,077,439,714 | 5,458,426,482 | 11.34% |
203,254,973 | 207,778,443 | -2.18% |
11,943,340,856 | 8,695,180,271 | 37.36% |
2,095,416,238 | 2,072,877,339 | 1.09% |
35,194,979 | 32,796,379 | 7.31% |
20,619,809,019 | 16,586,276,913 | 24.32% |
2,205,463,801 | 2,205,463,801 | 0.00% |
653,674,674 | 464,777,293 | 40.64% |
96,737,188 | 85,270,012 | 13.45% |
2,955,875,663 | 2,755,511,106 | 7.27% |
23,575,684,681 | 19,341,788,019 | 21.89% |
23.80 | 22.19 | 7.3% |
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 December 2022 and its profit for the Period ended 31st December 2022.
………Sgd……………….
Geethika Elwalage
Deputy General Manager - Finance
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:
R.J.A. Gunawardena | Rajitha B.A .Basnayake |
Director/CEO | Director |
8th Febuary 2023 | |
Colombo | |
* The above figures are provisional and subject to audit. |
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Asia Asset Finance Ltd. published this content on 10 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2023 03:46:05 UTC.
