Colombo Investment Trust : Quarterly Financial Report as of 30/06/2022

COLOMBO INVESTMENT TRUST PLC

Company No. PQ 85

INTERIM FINANCIAL STATEMENTS

For the three months ended

30th June 2022

COLOMBO INVESTMENT TRUST PLC

Company No PQ 85

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Audited		Unaudited
Year		Three months Three months
ended		ended	ended	Variance
31.03.2022		30.06.2022	30.06.2021		%
		Rs.'000	Rs.'000
46,986	Revenue	4,489	4,872	-	8
(9,787)	Cost of Investments disposed	-	-		-
	Net change in Fair Value through
8,833	Profit or Loss Financial Assets	(85,624)	39,419	-	317
22	Other Income	27	-		-
(4,110)	Administrative Expenses	(780)	(930)	+	16
	Impairment (Expense)/Reversal for
40	Related Party Receivable	-	-		-
41,984	Operating Profit/(Loss)	(81,888)	43,361	-	289
(1,893)	Finance Expenses	(750)	(538)	-	39
40,091	Profit/(Loss) before Tax	(82,638)	42,823	-	293
(648)	Income Tax Expenses	(367)	-		-
39,443	Profit/(Loss) for the period	(83,005)	42,823	-	293
	Other Comprehensive Income/(Expense)
	Items that will not be reclassified to Profit or Loss
	Financial Assets at Fair Value through
	Other Comprehensive Income
(174,355) - Net change in Fair value	(78,200)	16,762	-	567
	Financial Assets at Fair Value through
	Other Comprehensive Income
-	- Reclassified to Equity	-	-		-
	Financial Assets at Fair Value through
	Other Comprehensive Income
-	- Profit on Diposal	-	-		-
(174,355) Total other Comprehensive Income/(Expense)	(78,200)	16,762	-	567
(134,912) Total Comprehensive Income/(Expense)	(161,205)	59,585	-	370
5.71	Earnings/(Loss) per Share (Rs.)	(12.01)	6.20
1.20	Dividend Proposed per Share (Rs.)	-	-

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COLOMBO INVESTMENT TRUST PLC

Company No PQ 85

STATEMENT OF FINANCIAL POSITION

Audited		Unaudited		Unaudited
As at		As at		As at
31.03.2022		30.06.2022	30.06.2021
Rs.'000		Rs.'000		Rs.'000
	ASSETS
	Non - Current Assets
	Financial Assets at Fair Value through Other
776,030	Comprehensive Income	701,505		966,248
776,030	Total Non - Current Assets	701,505		966,248

Current Assets

302,276

6,336

4,173

1,963

314,748

1,090,778

Financial Assets at Fair value through Profit or Loss	224,654	313,203
Trade & Other Receivables	1,285	976
Amounts due from Related Companies	-	4,436
Cash & Cash Equivalents	1,709		3,706
Total Current Assets	227,648		322,321
Total Assets	929,153	1,288,569

EQUITY AND LIABILITIES

	Equity
195,643	Stated Capital	195,643	187,431
315,988	Retained Earnings	232,984	327,580
560,023	FVOCI Reserve	481,822		751,140
1,071,654	Total Equity	910,449	1,266,151
	Liabilities
	Current Liabilities
18,286	Trade and Other Payables	18,147	22,206
154	Dividend Payable	154	176
684	Income Tax Payable	403		36
19,124	Total	Current Liabilities	18,704		22,418
19,124	Total	Liabilities	18,704		22,418
1,090,778	Total Equity and Liabilities	929,153	1,288,569
155.11	Net Assets per Share (Rs.)	131.78	183.26

For and on behalf of the Board

(Sgd.) S.D.R.Arudpragasam	(Sgd.) S.Shanmugalingam
Director	Director
04th August,2022

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COLOMBO INVESTMENT TRUST PLC

Company No. PQ 85

STATEMENT OF CHANGES IN EQUITY

	Stated	Retained	FVOCI	Total
	Capital	Earnings	Reserve	Equity
	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance as at 01.04.2021	187,431	284,757	734,378	1,206,566
Profit for the period	-	42,823	-	42,823
Other Comprehensive Income	-	-	16,762	16,762
Balance as at 30.06.2021	187,431	327,580	751,140	1,266,151
Balance as at 01.04.2022	195,643	315,989	560,022	1,071,654
Loss for the period	-	(83,005)	-	(83,005)
Other Comprehensive Income	-	-	(78,200)	(78,200)
Balance as at 30.06.2022	195,643	232,984	481,822	910,449

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COLOMBO INVESTMENT TRUST PLC

Company No. PQ 85

STATEMENT OF CASH FLOWS

Audited		Unaudited	Unaudited
Year		Three months	Three months
ended		ended	ended
31.03.2022		30.06.2022	30.06.2021
Rs.'000		Rs.'000	Rs.'000
	CASH FLOW FROM OPERATING ACTIVITIES
25,938	Dividend Received	5,195	4,543
(24,519)	Payments to Service Providers	(655)	(1,677)
(8,678)	Acquisition of Investments	(7,784)	(408)
-	Settlement from Broker	-	-
9,076	Proceeds from Disposal of Investments	1	-
-	Settlement of Other Debtors	9	-
302	Receipt/(Payment) of Current Account Balances	4,200	-
-	Income Tax paid	(648)	-
(1,944)	Interest paid	(572)	(540)
175	Net Cash generated from/(used in) Operating Activities	(254)	1,918
	CASH FLOW FROM FINANCING ACTIVITIES
-	Movement in Factional Share proceeds	-	-
-	Loan Repayment	-	-
-	Net Cash used in Financing Activities	-	-
175	Net increase in Cash and Cash Equivalents	(254)	1,918
1,788	Cash and Cash Equivalents at the beginning of the period	1,963	1,788
1,963	Cash and Cash Equivalents at the end of the period	1,709	3,706
	Note: A
	Reconcilation of Profit for the Year to the net Cash Flows used in Operating Activities
	Cash Flow from Operating Activities
40,091	Profit before tax	(82,638)	42,823
	Adjustments for :
(8,833)	Net change in Fair Value through Profit or Loss Financial Assets	85,623	(39,419)
(1,905)	Gain on Disposal of Finanacial Assets	-	-
(5,003)	Dividend received as Scrip dividend	(2,358)	(1,622)
1,893	Interest Expense	750	538
(40)	Provision/(Reversal) for Related Party Receivable	-	-
(22)	Write back of Unclaimed Dividends	-	-
26,181	Operating Profit before Working Capital Changes	1,377	2,320
	Changes in Working Capital
(2,552)	(Increase)/Decrease in Receivables	5,050	2,808
302	(Increase)/Decrease in Amounts Due from Related Parties	4,173	-
(13,134)	Increase/(Decrease) in Trade & Other Paybles	(1,850)	(2,262)
10,797	Cash generated from /(used in) Operating Activities	8,750	2,866
-	Income Tax paid	(648)
(1,944)	Interest Paid	(572)	(540)
(8,678)	Acquisition of Investments	(7,784)	(408)
-	Proceeds from Disposal of Investments	-	-
175	Net Cash generated from / (used in) Operating Activities	(254)	1,918

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