Pak Gulf Leasing : Transmission of Quarterly Report for the Period Ended Sep 30, 2022

PAK-GULF LEASING COMPANY LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT SEPTEMBER 30, 2022

			(Un-audited)	(Audited)
			September 30,	June 30,
			2022			2022
ASSETS		Note	-------------------Rupees-------------------
CURRENT ASSETS
Cash and bank balances		6	29,556,833			26,040,004
Short term investments		7	64,770,811			55,205,847
Other receivables		8	58,452,267			58,452,267
Advance to employees			56,938			56,939
Prepayments			1,207,722			569,430
Current portion of net investment in finance lease	9	523,904,728			481,967,960
Current portion of long-term loans		10	92,586,491			88,418,588
			770,535,790			710,711,035
NON-CURRENT ASSETS
Net investment in finance lease		9	1,534,049,579			1,870,969,785
Long-term loans		10	128,247,411			147,442,165
Long-term security deposits			118,500			118,500
Investment property			164,736,000			164,736,000
Property, plant and equipment		11	3,291,856			3,505,151
Right to use assets			3,338,162			4,401,695
			1,833,781,508			2,191,173,296
TOTAL ASSETS			2,604,317,298			2,901,884,331
LIABILITIES
CURRENT LIABILITIES
Trade and other payables			89,032,803			114,394,748
Taxation - net			91,677,348			68,662,934
Unclaimed dividend			1,431,636			1,431,636
Accrued mark-up			17,684,500			20,353,808
Short term borrowings		12	66,542,096			251,625,391
Current portion of certificates of investment	13	267,908			267,908
Current portion of long-term loan		14	66,666,672			66,666,672
Current portion of lease liabilities		15	1,010,647			5,251,117
Current portion of long-term deposits		16	91,858,552			155,254,885
			426,172,162			683,909,099
NON-CURRENT LIABILITIES
Certificates of investment		13	345,883,371			336,799,557
Long-term loan		14	99,999,985			66,666,652
Lease liabilities		15	-			567,961
Long-term deposits		16	694,081,513			780,344,665
Deferred taxation		17	134,496,181			145,754,010
			1,274,461,050			1,330,132,845
TOTAL LIABILITIES			1,700,633,212			2,014,041,944
NET ASSETS
		903,684,086			887,842,387
NET ASSETS FINANCED BY:
Authorised share capital			500,000,000			500,000,000
Issued, subscribed and paid-up capital
		253,698,000			253,698,000
Capital reserves
Statutory reserve
		145,621,654			142,398,443
Reserve for issue of bonus shares			4,402,000			4,402,000
Surplus on revaluation of property, plant and equipment		90,504,204			90,504,204
Surplus on revaluation of available for sale investments		2,060,542			2,334,900
			242,588,400			239,639,547
Revenue reserve
Unappropriated profit			407,397,686			394,504,840
			903,684,086			887,842,387
CONTINGENCIES AND COMMITMENTS	18
The annexed notes from 1 to 24 form an integral part of this condensed interim financial statements.
____________________	___________________	_____________
Chief Executive Officer	Chief Financial Officer	Director

PAK-GULF LEASING COMPANY LIMITED

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2022

	Three months period ended
	September 30,
	2022			2021
	------------(Rupees)------------
INCOME
Income from financing operations	60,796,922			45,308,170
OTHER OPERATING INCOME
Return on investments	2,224,252			611,881
Other income	2,896,521			2,633,202
	5,120,773			3,245,083
	65,917,695			48,553,253
OPERATING EXPENSES
Administrative and operating expenses	14,953,264			15,287,961
Finance cost	23,113,061			12,216,551
	38,066,325			27,504,512
Operating profit before provision	27,851,370			21,048,741
(Provision)/Reversal for potential lease losses - net	(3,602,233)			(19,323,920)
(Provision)/Reversal for lease receivables held under litigation - net	-			7,067,529
	(3,602,233)			(12,256,391)
Profit before taxation	24,249,137			8,792,350
Taxation
Current	(23,014,413)			(29,676,790)
Deferred	14,881,334			23,294,012
	(8,133,079)			(6,382,778)
Profit after taxation	16,116,058			2,409,572
Earnings per share - basic and diluted	0.64			0.09

The annexed notes from 1 to 24 form an integral part of this condensed interim financial statements.

____________________	___________________	_____________
Chief Executive Officer	Chief Financial Officer	Director