Senkadagala Finance : Interim Financial Statements for the period ended 31st December 2021

Senkadagala Finance PLC

Interim Financial Statements for the period ended 31st December 2021

Fitch Ratings Lanka Limited:

BBB+(lka)

Senkadagala Finance PLC

Income statement

			Company						Group
For the three month period ended 31st December	2021	2020		Change	2021	2020		Change
	Rs.		Rs.	%		Rs.		Rs.	%
Gross income	1,673,900,845	1,728,130,290	(3)	1,722,409,626	1,776,573,532	(3)
Interest income	1,571,871,682	1,637,216,958	(4)	1,572,167,649	1,637,414,739	(4)
Interest expense	(583,419,166)		(827,480,755)		(29)		(583,512,628)		(827,118,071)		(29)
Net interest income	988,452,516	809,736,203	22	988,655,021	810,296,668	22
Fee and commission income	18,008,131	12,868,900	40	64,382,422	58,765,147	10
Fee and commission expense	(3,721,789)		(2,605,779)		43		(3,721,789)		(2,605,779)		43
Net fee and commission income	14,286,342	10,263,121	39	60,660,633	56,159,368	8
Net gain from trading	7,190,437	17,745,361	(59)	7,820,465	17,745,361	(56)
Net gain from financial instruments designated at fair value	54,100,647	44,344,282	22	55,384,089	46,768,496	18
through profit or loss
Other operating income	22,729,948		15,954,789		42		22,655,001		15,879,789		43
Net other operating income	84,021,032	78,044,432	8	85,859,555	80,393,646	(7)
Total operating income	1,086,759,890	898,043,756	21	1,135,175,209	946,849,682	20
Impairment charge and other credit losses	(103,764,954)		(163,317,670)		36		(103,764,954)		(163,317,670)		36
Net operating income	982,994,936	734,726,086	34	1,031,410,255	783,532,012	32
Personnel expenses	(182,458,583)	(156,683,510)	16	(189,906,141)	(161,039,815)	18
Depreciation expense	(98,017,635)	(103,876,557)	(6)	(100,274,163)	(104,226,617)	(4)
Amortisation expense	(3,623,053)	(3,068,537)	18	(3,642,375)	(3,068,537)	19
Other operating expenses	(169,642,626)		(185,485,424)		(9)		(172,745,135)		(187,587,346)		(8)
Operating profit before taxes on financial services	529,253,039	285,612,058	85	564,842,441	327,609,697	72
Taxes on financial services	(73,427,139)		(52,016,487)		41		(73,427,139)		(52,016,487)		41
Profit before income tax	455,825,900	233,595,571	95	491,415,302	275,593,210	78
Income tax expense	(110,510,358)		(144,545,711)		(24)		(117,535,387)		(152,356,709)		(23)
Profit for the period	345,315,542		89,049,860		288		373,879,915		123,236,501		203
Basic/diluted earnings per share	4.31	1.18	265	4.67	1.63	186

Figures in brackets in 2021 and 2020 columns indicate deductions.

The above figures are provisional and subject to audit.

Senkadagala Finance PLC

Statement of other comprehensive income

		Company				Group
For the three month period ended 31st December	2021	2020	Change	2021	2020	Change
	Rs.	Rs.	%		Rs.	Rs.	%

Profit for the period

Other comprehensive income

Items that will not be reclassified to profit or loss

Changes in fair value of investments in equity at fair value through other comprehensive income

Total other comprehensive income

345,315,542

89,049,860

288

373,879,915

123,236,501

203

-	-	-	-	-	-
-		-		-		-		-		-

Total comprehensive income for the period net of tax	345,315,542	89,049,860	288	373,879,915 123,236,501	203

Figures in brackets in 2021 and 2020 columns indicate deductions.

The above figures are provisional and subject to audit.

Senkadagala Finance PLC

Statement of profit or loss

		Company					Group
For the period ended 31st December	2021	2020		Change	2021	2020	Change
	Rs.	Rs.	%		Rs.	Rs.	%
Gross income	4,628,923,980	4,548,412,287	2	4,731,258,387	4,645,444,524	2
Interest income	4,397,724,949	4,320,521,096	2	4,398,383,925	4,321,460,371	2
Interest expense	(1,839,599,927)	(2,411,912,216)		(24)		(1,839,926,114)	(2,409,498,535)	(24)
Net interest income	2,558,125,022	1,908,608,880	34	2,558,457,811	1,911,961,836	34
Fee and commission income	44,149,448	39,451,560	12	180,925,204	177,606,474	2
Fee and commission expense	(7,781,648)	(9,107,850)		(15)		(7,781,648)	(9,107,850)	(15)
Net fee and commission income	36,367,800	30,343,710	20	173,143,556	168,498,624	3
Net gain from trading	24,293,594	19,427,725	25	25,451,645	19,427,725	31
Net gain from financial instruments designated at fair value	64,049,856	77,804,548	(18)	67,016,427	80,967,596	(17)
through profit or loss
Other operating income	98,706,133	91,207,358		8		59,481,186	45,982,358	29
Net other operating income	187,049,583	188,439,631	(1)	151,949,258	146,377,679	4
Total operating income	2,781,542,405	2,127,392,221	31	2,883,550,625	2,226,838,139	29
Impairment charge and other credit losses	(770,045,925)	(248,145,075)	210	(770,045,925)	(248,145,075)	210
Net operating income	2,011,496,480	1,879,247,146	7	2,113,504,700	1,978,693,064	7
Personnel expenses	(515,726,539)	(465,750,688)	11	(537,297,550)	(478,045,931)	12
Depreciation expense	(300,170,827)	(310,998,563)	(3)	(306,881,222)	(312,030,957)	(2)
Amortisation expense	(9,992,659)	(9,749,717)	2	(10,045,540)	(9,749,717)	3
Other operating expenses	(421,689,830)	(509,550,241)		(17)		(429,950,384)	(516,659,227)	(17)
Operating profit before taxes on financial services	763,916,625	583,197,937	31	829,330,004	662,207,232	25
Taxes on financial services	(176,361,129)	(93,504,661)		89		(176,361,129)	(93,504,661)	89
Profit before income tax	587,555,496	489,693,276	20	652,968,875	568,702,571	15
Income tax expense	(138,572,388)	(116,052,260)		(19)		(158,343,646)	(139,743,623)	(13)
Profit for the period	448,983,108	373,641,016		20		494,625,229	428,958,948	15
Basic/diluted earnings per share	5.60	4.94	13	6.17	5.67	9

Figures in brackets in 2021 and 2020 columns indicate deductions.

The above figures are provisional and subject to audit.

Senkadagala Finance PLC