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    LFIN.N0000   LK0301N00008

LB FINANCE PLC

(LFIN.N0000)
  Report
End-of-day quote Colombo Stock Exchange  -  2023-02-05
47.00 LKR   +0.43%
01/18LB Finance PLC Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
CI
01/18Lb Finance : Interim Financial Statement for the period ended 31st December 2022
PU
2022LB Finance PLC Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2022
CI
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

LB Finance : Interim Financial Statements 30th September 2022

10/19/2022 | 07:44am EST

F O R T H E Y E A R E N D E D S E P T E M B E R 3 0 , 2 0 2 2

LB FINANCE PLC

STATEMENT OF COMPREHENSIVE INCOME

Period ended 30 September 2022

COMPANY

FOR THE 3 MONTHS ENDED

FOR THE 6 MONTHS ENDED

30.09.2022

30.09.2021

Change

30.09.2022

30.09.2021

Change

Rs.('000)

Rs.('000)

%

Rs.('000)

Rs.('000)

%

Income

10,387,022

7,114,937

46

18,911,838

13,634,323

39

Interest Income

9,539,093

6,535,601

46

17,278,068

12,617,901

37

Less : Interest Expenses

5,046,984

2,084,304

>100

8,129,415

4,276,853

90

Net Interest Income

4,492,109

4,451,297

1

9,148,653

8,341,048

10

Fee and Commission Income

747,088

541,459

38

1,503,029

943,925

59

Net Trading Income

6,304

154

>100

2,544

(2,583)

>100

Other Operating Income

94,537

37,723

>100

128,197

75,080

71

Total Operating Income

5,340,038

5,030,633

6

10,782,423

9,357,470

15

Less : Impairment Charges and Other Losses

247,717

166,496

49

438,714

760,450

(42)

Net Operating Income

5,092,321

4,864,137

5

10,343,709

8,597,020

20

Less : Operating Expenses

Personnel Expenses

880,132

784,335

12

1,749,441

1,547,595

13

Depreciation of Property, Plant and Equipment

199,705

200,920

(1)

407,243

380,982

7

Amortisation of Intangible Assets

2,035

2,894

(30)

4,293

6,423

(33)

Other Operating Expenses

630,659

472,163

34

1,261,179

1,002,817

26

Total Operating Expenses

1,712,531

1,460,312

17

3,422,156

2,937,817

16

Operating Profit before Tax on Financial Services

3,379,790

3,403,825

(1)

6,921,553

5,659,203

22

Less : Tax on Financial Services

598,294

503,661

19

1,212,373

871,636

39

Profit before Taxation

2,781,496

2,900,164

(4)

5,709,180

4,787,567

19

Less : Income Tax Expense

815,940

830,265

(2)

1,671,942

1,374,779

22

Profit for the Period

1,965,556

2,069,899

(5)

4,037,238

3,412,788

18

Basic Earnings per Share (Rs.)

3.55

3.74

(5)

7.29

6.16

18

Other Comprehensive Income

Other Comprehensive Income that will never be Reclassified to Income

Statement

Net Gains/(Losses) on Investment in Equity Instruments - Fair Value Through

Other Comprehensive Income

38,572

9,182

>100

23,914

(4,223)

>100

Net Other Comprehensive Income that will never be Reclassified to

Income Statement

38,572

9,182

>100

23,914

(4,223)

>100

Other Comprehensive Income for the Period, Net of Tax

38,572

9,182

>100

23,914

(4,223)

>100

Total Comprehensive Income for the Period, Net of Tax

2,004,128

2,079,081

(4)

4,061,152

3,408,565

19

LB FINANCE PLC

STATEMENT OF COMPREHENSIVE INCOME

Period ended 30 September 2022

Income

Interest Income

Less : Interest Expenses

Net Interest Income

Fee and Commission Income

Net Trading Income

Other Operating Income

Total Operating Income

Less : Impairment Charges and Other Losses

Net Operating Income

Less : Operating Expenses

Personnel Expenses

Depreciation of Property, Plant and Equipment

Amortisation of Intangible Assets

Other Operating Expenses

Total Operating Expenses

Operating Profit before Tax on Financial Services

Less : Tax on Financial Services

Profit before Taxation

Less : Income Tax Expense

Profit for the Period

Profit Attributable to:

Equity Holders of the Company

Non-Controlling Interest

Profit for the Period

Basic Earnings per Share (Rs.)

Other Comprehensive Income

Other Comprehensive Income that will be Reclassified to Income Statement

Net Gains/(Losses) from Translating the Financial Statements of the Foreign Operations

Net Other Comprehensive Income that will be Reclassified to Income Statement

Other Comprehensive Income that will never be Reclassified to Income Statement Net Gains/(Losses) on Investment in Equity Instruments - Fair Value Through Other Comprehensive Income

Net Other Comprehensive Income that will never be Reclassified to Income Statement

Other Comprehensive Income for the Period, Net of Tax

Total Comprehensive Income for the Period, Net of Tax

Attributable to:

Equity Holders of the Company

Non-Controlling Interest

Total Comprehensive Income for the Period, Net of Tax

GROUP

FOR THE 3 MONTHS ENDED

FOR THE 6 MONTHS ENDED

30.09.2022

30.09.2021

Change

30.09.2022

30.09.2021

Change

Rs.('000)

Rs.('000)

%

Rs.('000)

Rs.('000)

%

10,478,645

7,124,108

47

19,081,641

13,657,203

40

9,622,441

6,548,508

47

17,432,701

12,645,727

38

5,062,136

2,088,759

>100

8,155,396

4,285,156

90

4,560,305

4,459,749

2

9,277,305

8,360,571

11

754,446

541,649

39

1,515,932

945,027

60

6,304

154

>100

2,544

(2,583)

>100

95,454

33,797

>100

130,464

69,032

89

5,416,509

5,035,349

8

10,926,245

9,372,047

17

228,269

126,381

81

404,113

702,942

(43)

5,188,240

4,908,968

6

10,522,132

8,669,105

21

913,247

794,615

15

1,815,578

1,569,710

16

204,070

201,463

1

417,065

382,093

9

3,313

3,664

(10)

6,878

8,017

(14)

657,066

477,948

37

1,309,847

1,015,749

29

1,777,696

1,477,690

20

3,549,368

2,975,569

19

3,410,544

3,431,278

(1)

6,972,764

5,693,536

22

599,638

503,661

19

1,215,038

871,636

39

2,810,906

2,927,617

(4)

5,757,726

4,821,900

19

819,859

828,708

(1)

1,679,859

1,371,190

23

1,991,047

2,098,909

(5)

4,077,867

3,450,710

18

1,992,581

2,098,909

(5)

4,081,960

3,450,710

18

(1,534)

-

(100)

(4,093)

-

(100)

1,991,047

2,098,909

(5)

4,077,867

3,450,710

18

3.59

3.79

(5)

7.36

6.23

18

(110,063)

(81,979)

(34)

16,082

(184,361)

>100

(110,063)

(81,979)

(34)

16,082

(184,361)

>100

38,572

9,182

>100

23,914

(4,223)

>100

38,572

9,182

>100

23,914

(4,224)

>100

(71,491)

(72,797)

(2)

39,996

(188,584)

>100

1,919,556

2,026,112

(5)

4,117,863

3,262,126

26

1,921,090

2,026,112

(5)

4,121,956

3,262,126

26

(1,534)

-

(100)

(4,093)

-

(100)

1,919,556

2,026,112

(5)

4,117,863

3,262,126

26

LB FINANCE PLC

STATEMENT OF FINANCIAL POSITION

As at 30 September 2022

Company

Group

Audited

Audited

30.09.2022

31.03.2022

30.09.2022

31.03.2022

Rs.('000)

Rs.('000)

Rs.('000)

Rs.('000)

Assets

Cash and Cash Equivalents

6,313,830

14,458,986

6,406,285

14,634,136

Financial Assets Recognised Through Profit or Loss - Measured at Fair

Value

15,752

13,208

15,752

13,208

Financial Assets at Amortised Cost - Loans and Receivables

107,528,012

92,837,601

108,621,624

93,897,204

Financial Assets at Amortised Cost - Lease Rentals Receivable and Stock

out on Hire

37,048,400

41,558,002

37,116,566

41,640,197

Financial Assets Measured at Fair Value Through Other Comprehensive

Income

109,940

86,102

109,942

86,104

Other Financial Assets

13,999,273

5,598,624

14,200,605

5,655,767

Other Non Financial Assets

603,070

454,711

632,883

500,581

Investment in Subsidiary

921,998

921,162

-

-

Property, Plant and Equipment and Right-of-Use Assets

8,499,623

8,421,741

8,536,626

8,448,930

Investment Properties

-

-

71,150

71,150

Intangible Assets

10,583

14,875

125,093

131,000

Total Assets

175,050,481

164,365,012

175,836,526

165,078,277

Liabilities

Due to Banks

26,527,662

26,858,737

26,531,883

26,861,944

Financial Liabilities at Amortised Cost - Due to Depositors

100,541,867

89,143,982

100,879,049

89,478,506

Debt Instruments Issued and Other Borrowed Funds

8,402,045

8,564,617

8,402,045

8,564,617

Other Financial Liabilities

3,220,951

3,305,112

3,264,858

3,343,419

Other Non Financial Liabilities

1,270,104

1,134,771

1,318,298

1,182,279

Current Tax Liabilities

962,460

1,882,242

965,105

1,875,082

Deferred Tax Liabilities

111,486

111,486

111,486

111,486

Post Employment Benefit Liability

333,986

316,973

337,543

323,833

Total Liabilities

141,370,561

131,317,920

141,810,267

131,741,166

Equity

Stated Capital

838,282

838,282

838,282

838,282

Reserves

8,264,434

8,038,658

8,549,154

8,307,296

Retained Earnings

24,577,204

24,170,152

24,537,618

24,085,844

Total Equity Attributable to Equity Holders of the Company

33,679,920

33,047,092

33,925,054

33,231,422

Non Controlling Interest

-

-

101,205

105,689

Total Equity

33,679,920

33,047,092

34,026,259

33,337,111

Total Liabilities and Equity

175,050,481

164,365,012

175,836,526

165,078,277

Net Asset Value per Share (Rs.)

60.79

59.65

61.23

59.98

Commitments and Contingencies

2,633,454

1,694,463

2,633,454

1,694,463

The information contained in these statements have been extracted from the unaudited Financial Statements unless indicated as "Audited".

CERTIFICATION:

These Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.

(Sgd.)

Malith Hewage

Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

Signed for and on behalf of the Board of Directors by,

(Sgd.)

(Sgd.)

J A S Sumith Adhihetty

Mrs. Yogadinusha Bhaskaran

Managing Director

Director

19 October 2022

Colombo

LB FINANCE PLC

STATEMENT OF CHANGES IN EQUITY - COMPANY

Retained

Statutory

Fair Value

Stated Capital

Earnings

Reserve

Reserve

Total Equity

Rs.('000)

Rs.('000)

Rs.('000)

Rs.('000)

Rs.('000)

Balance as at 01 April 2021 (Audited)

838,282

19,754,900

7,683,689

(87,583)

28,189,288

Net Profit for the Period

-

3,412,788

-

-

3,412,788

Other Comprehensive Income, Net of Tax

-

-

-

(4,223)

(4,223)

Transfers During the Period

-

(682,558)

682,558

-

-

Final Dividend for 2020/21

-

(2,216,229)

-

-

(2,216,229)

Balance as at 30 September 2021

838,282

20,268,901

8,366,247

(91,806)

29,381,624

Balance as at 01 April 2022 (Audited)

838,282

24,170,152

8,116,782

(78,124)

33,047,092

Surcharge Tax

-

(2,320,210)

-

-

(2,320,210)

Balance After Surcharge Tax

838,282

21,849,942

8,116,782

(78,124)

30,726,882

Net Profit for the Period

-

4,037,238

-

-

4,037,238

Other Comprehensive Income, Net of Tax

-

-

-

23,914

23,914

Transfers During the Period

-

(201,862)

201,862

-

-

Final Dividend for 2021/22

-

(1,108,114)

-

-

(1,108,114)

Balance as at 30 September 2022

838,282

24,577,204

8,318,644

(54,210)

33,679,920

STATEMENT OF CHANGES IN EQUITY - GROUP

Foreign

Total Equity

Currency

Attributable to

Retained

Statutory

Translation

Fair Value

Equity Holders

Non-Controlling

Stated Capital

Earnings

Reserve

Reserve

Reserve

of the Company

Interest

Total Equity

Rs.('000)

Rs.('000)

Rs.('000)

Rs.('000)

Rs.('000)

Rs.('000)

Rs.('000)

Rs.('000)

Balance as at 01 April 2021 (Audited)

838,282

19,801,953

7,683,689

150,901

(87,583)

28,387,242

-

28,387,242

Net Profit for the Period

-

3,450,710

-

-

-

3,450,710

-

3,450,710

Other Comprehensive Income, Net of Tax

-

-

-

(184,361)

(4,223)

(188,584)

-

(188,584)

Transfers During the Period

-

(682,558)

682,558

-

-

-

-

-

Final Dividend for 2020/21

-

(2,216,229)

-

-

-

(2,216,229)

-

(2,216,229)

Balance as at 30 September 2021

838,282

20,353,876

8,366,247

(33,460)

(91,806)

29,433,139

-

29,433,139

Balance as at 01 April 2022 (Audited)

838,282

24,085,844

8,116,782

268,638

(78,124)

33,231,422

105,689

33,337,111

#

Surcharge Tax

-

(2,320,210)

-

-

-

(2,320,210)

-

(2,320,210)

Balance After Surcharge Tax

838,282

21,765,634

8,116,782

268,638

(78,124)

30,911,212

105,689

31,016,901

Net Profit for the Period

-

4,081,960

-

-

-

4,081,960

(4,093)

4,077,867

Other Comprehensive Income, Net of Tax

-

-

-

16,082

23,914

39,996

-

39,996

Transfers During the Period

-

(201,862)

201,862

-

-

-

-

-

Disposal of Shares

-

-

-

-

-

-

(391)

(391)

Final Dividend for 2021/22

-

(1,108,114)

-

-

-

(1,108,114)

-

(1,108,114)

Balance as at 30 September 2022

838,282

24,537,618

8,318,644

284,720

(54,210)

33,925,054

101,205

34,026,259

#

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

L B Finance plc published this content on 19 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2022 11:43:02 UTC.


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Financials
Sales 2022 20 089 M 55,0 M 55,0 M
Net income 2022 8 530 M 23,4 M 23,4 M
Net Debt 2022 22 257 M 60,9 M 60,9 M
P/E ratio 2022 3,77x
Yield 2022 8,62%
Capitalization 26 041 M 71,3 M 71,3 M
EV / Sales 2021 2,25x
EV / Sales 2022 2,71x
Nbr of Employees 3 822
Free-Float 6,32%
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John Anthony Sunil Sumith Adhihetty Managing Director & Executive Director
Hasitha Athapattu Chief Financial Officer
Gogewatta Arachchige Prasanna Chairman
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