Singhe Hospitals : Quarterly Financial Statements as of 31 March 2022

FINANCIAL STATEMENTS

FOR THE QUARTER ENDED

31st March 2022

SINGHE HOSPITALS PLC

(PB 70371 PQ)

Singhe Hospitals PLC

INCOME STATEMENT & STATEMENT OF OTHER COMPREHENSIVE INCOME

Period Ended 31st March 2022

		31-Mar-2022		31-Mar-2021	Variance	Variance
		Rs.		Rs.	Rs.	%
		Not Audited		Audited
	Revenue	1,001,699,194	700,337,221	301,361,973	43.	0 %
	Cost of Services	(452,890,760)	(269,161,946)	183,728,814	68.	3 %
	Gross Profit				117,633,159	27.	3 %
	548,808,434		431,175,275
	Other Income and Gains	686,798	173,353	513,445	296.	2 %
	Administrative Expenses	(444,499,098)	(365,468,585)	79,030,513	21.	6 %
	Other Operating Expenses	(51,603,656)	(31,295,355)	(20,308,301)	64.	9 %
	Finance Cost	(39,249,093)	(28,783,614)	10,465,479	36.	4 %
	Profit Before Tax				8,342,311	(143. 8 %)
	14,143,385		5,801,074
	Income Tax	2,269,400	(3,501,953)	(5,771,353)	(164. 8 %)
	Profit for the Year				14,113,664	(613. 9 %)
16,412,785	2,299,121
	Items That Will Not be Reclassified to Profit or Loss
	Actuarial Gain/(Loss) from Valuation of Defined Benefit Plans	1,677,154	348,822
	Gain on Revaluation of Land & Building		9,436,533
	Deferred Tax Impact on Revaluation Gain		(1,321,115)
	Deferred Tax Impact on Defined Benefit Plan Actuarial Gain/(Loss)	(234,802)	(48,835)
	Deferred Tax Charge on Revaluation Due to
	Changes in Income Tax Rate		(7,049,292)
	Other Comprehensive Income/ (Expenses)
	1,442,352		1,366,113
	Total Comprehensive Income/ (Loss) for the Year
17,855,137	3,665,234
	Earnings Per Share - Basic	0.04	0.01

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Singhe Hospitals PLC

INCOME STATEMENT & STATEMENT OF OTHER COMPREHENSIVE INCOME

Three Months Ended 31st March 2022

		31-Mar-2022		31-Mar-2021	Variance	Variance
		Rs.		Rs.	Rs.	%
		Not Audited		Not Audited
	Revenue	237,888,551	204,901,419	32,987,132	16.	1 %
	Cost of Services	(93,745,278)	(71,246,361)	22,498,917	31.	6 %
	Gross Profit				10,488,215	7.	8 %
	144,143,273		133,655,058
	Other Income and Gains	561,399	(248,363)	809,762	(326. 0 %)
	Administrative Expenses	(114,922,941)	(114,223,642)	699,300	0.	6 %
	Other Operating Expenses	(15,672,252)	(9,617,211)	6,055,041	63.	0 %
	Finance Cost	(13,225,038)	(3,842,995)	9,382,043	244.	1 %
	Profit Before Tax				(4,838,408)	84.	5 %
	884,439		5,722,847
	Income Tax	5,269,400	(1,318,631)	(6,588,031)	(499. 6 %)
	Profit for the Period				1,749,623	(39. 7 %)
6,153,839	4,404,216
	Other Comprehensive Income/ (Expenses)
	Actuarial Gain/(Loss) from Valuation of Defined Benefit Plans	1,677,154	348,822
	Gain on Revaluation of Land & Building	-	9,849,335
	Deferred Tax Impact on Revaluation	-	(1,378,907)
	Deferred Tax Impact on Defined Benefit Plan Acturial	(234,802)	(48,835)
	Deferred Tax Charge on Revaluation Due to
	Changes in Income Tax Rate	-	(7,049,292)
	Other Comprehensive Income/ (Expenses)
	1,442,352		1,721,123
	Total Comprehensive Income/ (Expenses)
7,596,192	6,125,339
	Earnings Per Share - Basic	0.01	0.01

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Singhe Hospitals PLC

STATEMENT OF FINANCIAL POSITION

As at 31st March 2022

	31-Mar-2022		31-Mar-2021
ASSETS	Rs.		Rs.
	Non Audited		Audited
Non-Current Assets
Property, Plant and Equipment	742,838,175	739,616,377
Right of Use Assets	65,555,364	55,872,538
Intangible Assets	7,025,488	7,815,277
	815,419,027		803,304,192
Current Assets
Inventories	84,949,985	67,886,274
Trade and Other Receivables	38,623,655	49,460,387
Financial Investments	20,720	18,405
Income Tax Recoverable	1,220,639	3,554,985
Cash and Bank Balances	12,378,514	27,809,046
	137,193,513		148,729,097
Total Assets	952,612,540		952,033,289
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital	375,000,000	375,000,000
Capital Reserves	109,774,781	108,332,429
Retained Earnings	9,591,309	(6,821,476)
Total Equity	494,366,090		476,510,953
Non-Current Liabilities
Interest Bearing Loans and Borrowings	172,023,816	206,905,829
Lease Liability	30,547,428	35,865,223
Deferred Tax Liabilities	71,107,285	75,476,229
Retirement Benefit Obligations	10,055,268	10,410,768
	283,733,796		328,658,049
Current Liabilities
Trade and Other Payables	38,056,267	24,464,896
Interest Bearing Loans and Borrowings	63,003,287	34,859,078
Amounts Due to Related Parties	672,111	1,672,111
Lease Liability	22,061,828	15,109,293
Bank Overdrafts	50,719,161	70,758,909
	174,512,653		146,864,287
Total Equity and Liabilities	952,612,540		952,033,289
Net Assets Per Share	1.15	1.10

The above figures are provisional & subject to audit.

It is certified that the Financial Statements have been prepared in accordance with the requirements of the Companies Act No.7 of 2007.

Asanka De Silva

Finance Manager

The Board of Directors are responsible for the preparation and presentation of these Financial Statements. Approved & Signed on behalf of the Board.

Navinda Weerasinghe	Lakshika Weerasinghe
Managing Director	Director
28.05.2022
Rathnapura

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Singhe Hospitals PLC

STATEMENT OF CHANGES IN EQUITY

Period Ended 31st March 2022

	Stated		Revaluation		Gain / ( Loss) on		Retained
	Capital		Reserves		Defined Benefit Plan		Earnings		Total
	Rs.		Rs.		Rs.		Rs.		Rs.
Balance as at 01st April, 2020	375,000,000	105,176,755	1,789,561	(9,120,597)	472,845,719
Profit for the Period	-	-	-	2,299,121	2,299,121
Other Comprehensive Income	-	9,436,533	348,822	-	9,785,355
Deferred Tax Impact on Actuarial Gain/(Loss)				(48,835)			(48,835)
Deferred Tax on Revaluation		(1,321,115)					(1,321,115)
Deferred Tax Charge on Revaluation Due to		(7,049,292)					(7,049,292)
Changes in Income Tax Rate
Balance as at 31st March, 2021	375,000,000		106,242,881		2,089,548		(6,821,476)		476,510,953
Other Comprehensive Income	-			1,677,154	-	1,677,154
Deferred Tax Impact on Actuarial Gain/(Loss)				(234,802)			(234,802)
Deferred Tax on Revaluation								-
Deferred Tax Charge on Revaluation Due to								-
Changes in Income Tax Rate
Profit for the Period						16,412,785	16,412,785
Balance as at 31st March, 2022
375,000,000	106,242,881	3,531,900	9,591,309	494,366,090

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