Associated Motor Finance : Audited Financial as of 31 March 2022

ASSOCIATED MOTOR FINANCE COMPANY PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2022

		2021/2022	2020/2021
	Note	Rs.	Rs.
Gross income	7	2,649,849,581	1,158,898,640
Interest income		2,300,643,365	1,068,727,956
Less :Interest expenses		(1,519,247,143)	(696,194,819)
Net interest income	8	781,396,223	372,533,137
Fee and commission income	9	86,553,564	25,067,815
Net trading income	10	63,931,042	38,085,656
Other operating income (net)	11	198,721,610	27,017,212
Total operating income		1,130,602,438	462,703,821
Less: Impairment charges on financial assets and other losses	12	353,547,750	(45,437,332)
Net operating income		1,484,150,188	417,266,488
Less: Operating expenses
Personnel expenses	13	(500,294,845)	(237,206,096)
Depreciation of property, equipment and amortisation of Right of Use of
Assets		(76,979,481)	(32,474,870)
Amortisation of intangible assets		(5,337,001)	(543,113)
Other operating expenses	14	(311,585,945)	(120,105,920)
Profit before tax on financial services		589,952,917	26,936,490
Less : Tax on financial services	15	(97,624,405)	(36,353,026)
Profit before taxation		492,328,512	(9,416,535)
Less: Income tax (expense) / reversals	16	(192,859,554)	3,284,222
Net Profit/(loss) for the year		299,468,958	(6,132,313)
Other comprehensive income / (expense), net of tax
Items that will not be reclassified to profit or loss
Financial assets measured at fair value through other comprehensive
income:
Net changes in fair value during the period		10,887,036	-
Retirement benefit obligations - actuarial gain / (loss)		(1,042,657)	2,821,122
Total other comprehensive income / (expenses) for the year, net of taxes		9,844,379	2,821,122
Total comprehensive income for the year		309,313,337	(3,311,191)
Earnings per share
Basic earnings per share (Rs.)	17	2.86	(1.09)

The accounting policies and notes from 1 to 44 form an integral part of these financial statements.

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