Laugfs Gas : Interim financial statements for teh quarter ended 31.12.2021

LAUGFS GAS PLC

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the Quarter ended 31 December 2021

	Quarter ended 31 December		Nine Months ended 31 December		Year ended 31
			March
	Unaudited			Unaudited				Audited
	2021	2020	Change		2021	2020		Change		2021
	Rs.'000		Rs.'000	%		Rs.'000		Rs.'000	%		Rs.'000
Revenue	7,907,695	10,541,439	(25)	28,680,988	25,149,168	14	35,533,768
Cost of Sales	(7,800,830)		(9,301,119)	(16)		(28,607,247)		(21,206,483)		35		(31,799,186)
Gross Profit	106,865	1,240,321	(91)	73,742	3,942,685	(98)	3,734,582
Other Operating Income	117,395	246,035	(52)	413,954	524,670	(21)	703,048
Selling and Distribution Expenses	(453,460)	(510,333)	(11)	(1,300,458)	(1,711,148)	(24)	(2,209,579)
Administrative Expenses	(266,800)	(248,826)	7	(759,493)	(753,857)	1	(1,065,445)
Foreign Currency Exchange Gain/(Loss)	(17,886)		13,932	(228)		(46,434)		49,687		(193)		33,371
Operating Profit	(513,886)	741,129	(169)	(1,618,690)	2,052,037	(179)	1,195,977
Finance Cost	(584,791)	(573,502)	2	(1,595,857)	(1,841,150)	(13)	(2,234,921)
Fair Value Gain on Investment Properties	-	-	-	-	-	-	117,444
Finance Income	756		6,223	88		3,156		72,914		(96)		6,773
Profit /(Loss) Before Tax	(1,097,921)	173,850	(732)	(3,211,391)	283,801	(1,232)	(914,726)
Income Tax Expense	119,279	(19,791)	703	380,216	12,871	2,854	256,440
Profit/(Loss) for the Period			(735)
(978,642)		154,059		(2,831,174)		296,672		(1,054)		(658,286)
Attributable to:
Equity Holders of the Parent	(980,694)	151,508	(747)	(2,837,177)	285,700	(1,093)	(685,533)
Non-Controlling Interests	2,052	2,551	(20)	6,003	10,973	(45)	27,246
			(735)
	(978,642)		154,059		(2,831,174)		296,672		(1,054)		(658,286)
Earnings Per Share :
(2.53)	0.39	(747)	(7.33)	0.74	(1,093)	(1.77)
Basic/Diluted (Rs.)
attributable to Ordinary Equity Holders of the Parent

Note : Change % column represents the percentage change in current period's results compared to previous period

The above figures are subject to audit.

Figures in brackets indicates deductions.

The accounting policies and notes on pages 12 to 16 form an integral part of these financial statements.

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LAUGFS GAS PLC

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the Quarter ended 31 December 2021

	Quarter ended 31 December		Nine Months ended 31 December	Year ended 31
		March
	Unaudited				Unaudited		Audited
	2021			2020		Change	2021	2020		Change	2021
	Rs.'000	Rs.'000	%	Rs.'000		Rs.'000	%	Rs.'000
Profit/(Loss) for the Period	(978,642)			154,059		(735)	(2,831,174)	296,672		(1,054)	(658,286)
Other Comprehensive Income
Other Comprehensive Income to be Reclassified to Profit or
Loss in Subsequent Periods (Net of Tax) :
Exchange Differences in Translation of Foreign Operations	22,856			179,271		(87)	6,547	(24,114)		127	315,071
Net Other Comprehensive Income to be Reclassified to Profit						(87)					127
22,856			179,271		6,547		(24,114)		315,071
or Loss in Subsequent Periods
Other Comprehensive Income not to be Reclassified to Profit or
Loss in Subsequent Periods (Net of Tax) :
Gains/(Losses) on Financial Assets at FVTOCI	19			92,721		(100)	(1,341)	59,373		(102)	76,239
Actuarial Gains/(Losses) on Defined Benefit Plans	-			-		-	-	-		-	(21,697)
Income Tax Effect	-			-		-	-	-		-	46,158
Net Other Comprehensive Income not to be Reclassified to						(100)				(102)
19			92,721		(1,341)		59,373		100,700
Profit or Loss in Subsequent Periods
Other Comprehensive Income for the Period Net of Tax						(92)				(85)
22,876			271,992		5,205		35,259		415,772
Total Comprehensive Income for the Period Net of Tax						(324)				(951)
(955,767)			426,051		(2,825,969)		331,931		(242,515)
Attributable to:
Equity Holders of the Parent	(957,818)			423,500		(326)	(2,831,972)	320,958		(982)	(269,754)
Non-Controlling Interests	2,052			2,551		(20)	6,003	10,973		(45)	27,240
						(324)				(951)
	(955,767)			426,051		(2,825,969)		331,931		(242,515)

The accounting policies and notes on pages 12 to 16 form an integral part of these financial statements.

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LAUGFS GAS PLC	0.07	(0.01)	0.00
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2021
	Unaudited		Unaudited		Audited
	As at		As at		As at
	31.12.2021	31.12.2020	31.03.2021
ASSETS	Rs.'000		Rs.'000		Rs.'000
Non-Current Assets
Property, Plant and Equipment	25,956,867	26,134,296	27,110,241
Right-of-use assets	914,259	533,841	983,770
Investment Properties	2,877,707	2,759,607	2,877,707
Intangible Assets	2,863,153	2,799,182	2,888,471
Non-Current Financial Assets	21,050	119,159	10,458
Deferred Tax Assets	111,404	-	-
	32,744,440		32,346,085		33,870,646
Current Assets
Inventories	1,913,796	3,620,304	2,956,237
Trade and Other Receivables	3,422,627	6,001,107	4,482,353
Prepayments	79,393	131,552	95,652
Income Tax Recoverable	184,530	197,689	188,766
Other Current Financial Assets	61,028	43,878	140,357
Cash and Short-Term Deposits	515,383	497,257	312,137
	6,176,757		10,491,787		8,175,502
Total Assets	38,921,197		42,837,872		42,046,148
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital	1,000,000	1,000,000	1,000,000
Fair value Reserve of financial assets at FVTOCI	(23,153)	(34,964)	(22,730)
Foreign Currency Translation Reserve	1,483,686	1,137,953	1,477,139
Revaluation Reserve	711,968	778,268	804,479
Accumulated Losses	(5,937,534)	(2,223,607)	(3,191,949)
Equity attributable to Equity Holders of the Parent	(2,765,033)		657,651		66,939
Non-Controlling Interests	484,702	462,432	478,699
Total Equity	(2,280,332)		1,120,083		545,637
Non-Current Liabilities
Interest Bearing Loans and Borrowings	14,839,964	13,522,526	14,614,054
Employee Benefit Liability	191,229	153,525	172,868
Refundable Deposits	2,422,363	2,732,669	2,682,570
Deferred Tax Liability	-	505,177	205,710
	17,453,556		16,913,897		17,675,202
Current Liabilities
Trade and Other Payables	3,883,494	8,407,929	6,018,163
Interest Bearing Loans and Borrowings	19,227,359	15,601,892	16,947,556
Refundable Deposits	245,478	280,399	274,888
Income Tax Payable	391,643	513,672	584,702
	23,747,973		24,803,892		23,825,309
Total Equity and Liabilities	38,921,197		42,837,872		42,046,148
Net Assets Per Share (Rs.)	(7.14)	1.70	0.17
Note: The above figures are subject to audit.

I certify that these financial statements are in compliance with the requirements of the Companies Act No :07 of 2007.

(Sgd).

Channa Gunasekera Director - Group Finance

The Board of Directors is responsible for the preparation and presentation of these financial statements. Signed for and on behalf of the Board by:

(Sgd).	(Sgd).
W. K. H. Wegapitiya (Sgd)	U. K. Thilak De Silva (Sgd)
Director	Director
14th February 2022
Colombo
The accounting policies and notes on pages 12 to 16 form an integral part of these financial statements.

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LAUGFS GAS PLC

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the Nine Months ended 31 December 2021

Attributable to Equity Holders of the Parent

	Stated Capital		Accumulated Losses		Fair value Reserve		Revaluation		Foreign		Total		Non-Controlling		Total Equity
					of financial assets at		Reserve		Currency				Interests
					FVTOCI				Translation
									Reserve
	Rs.'000		Rs.'000		Rs.'000		Rs.'000		Rs.'000		Rs.'000		Rs.'000		Rs.'000
Balance as at 01 April 2021	1,000,000	(3,191,949)	(22,730)	804,479	1,477,139	66,939	478,699	545,637
Profit/(Loss) for the period	-	(2,837,177)	-	-	-	(2,837,177)	6,003	(2,831,174)
Other Comprehensive Income for the period	-		-		(1,341)		-		6,547		5,205		-		5,205
Total Comprehensive Income for the period	-	(2,837,177)	(1,341)	-	6,547	(2,831,972)	6,003	(2,825,969)
Transfer of depreciation on revaluation of property, plant & equipment	-	92,511	-	(92,511)	-	-	-	-
										-			-
Disposal of financial assets at FVTOCI	-	(918)	918	-	-	-	-	-
														-
Balance as at 31 December 2021	1,000,000		(5,937,534)		(23,153)		711,968		1,483,686		(2,765,033)		484,702		(2,280,332)
Balance as at 01 April 2020	1,000,000	(2,335,606)	(353,245)	863,476	1,162,068	336,693	451,459	788,152
Profit/(Loss) for the period	-	285,700	-	-	-	285,700	10,973	296,672
Other Comprehensive Income for the period	-		-		59,373		-		(24,114)		35,259		-		35,259
Total Comprehensive Income for the period	-	285,700	59,373	-	(24,114)	320,958	10,973	331,931
Transfer of depreciation on revaluation of property, plant & equipment	-	85,207	-	(85,207)	-	-	-	-
Disposal of Financial Asset as at FVTOCI	-	(258,908)	258,908	-	-	-	-	-
Balance as at 31 December 2020	1,000,000		(2,223,607)		(34,964)		778,268		1,137,953		657,651		462,432		1,120,083

Note : The above figures are subject to audit.

Figures in brackets indicates deductions.

The accounting policies and notes on pages 12 to 16 form an integral part of these financial statements.

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