Lanka Hospitals : Quarterly financial report as at 31-12-2022

PROVISIONAL CONSOLIDATED FINANCIAL

STATEMENTS

FOR THE QUARTER ENDED

31st December 2022

The Lanka Hospitals

C O R P O R A T I O N PLC (PQ 180)

THE LANKA HOSPITALS CORPORATION PLC

Provisional Consolidated Financial Statements

For the Quarter ended

31st December 2022

Board of Directors

Dr.Bandula WIJESIRIWARDENA - Chairman

Mr. Ashish BHATIA

Ms. Richa Singh DEBGUPTA

Ms.Roshini CABRAAL

Dr.Ravindra RUBERU

Ms.Lakshmi SANGAKKARA

Mr. Mayura FERNANDO

Mr. Kushan De ALWIS PC

Mr. Nadun FERNANDO

Dr. Kanishka KARUNARATNE

Mr. Kasun RAJAPAKSA

Mr.Ronald C PERERA PC

Mr. Anurag KALRA - ( Alternate Director to Mr. Ashish BHATIA ) Mr. Rajiv PURI (Alternate Director to Ms. Richa Singh DEBGUPTA )

Principal Place of Business & Registered Office

No. 578, Elvitigala Mawatha, Narahenpita, Colombo 05

Tel: [phone] Fax: [phone]

E-mail: [e-mail]

Web: www.lankahospitals.com

THE LANKA HOSPITALS CORPORATION PLC

Provisional Consolidated Financial Statements for the Quarter ended 31st December 2022

Statement of Financial Position	Group
As at,	31st Dec 2022		31st Dec 2021
			Adjusted
	Rs.		Rs.
ASSETS
Non Current Assets
Property, Plant & Equipment	5,125,085,679		4,718,257,761
Right of Use Assets	531,471,112		533,477,044
Intangible Assets	46,814,095		55,276,003
Investment Property	-		-
Investment in Subsidiary	-		-
Total Non Current Assets	5,703,370,887		5,307,010,807
Current Assets
Inventories	979,995,750		455,449,496
Trade & Other Receivables	1,015,529,407		1,031,704,735
Amounts due from Related Parties	235,232		1,834,188
Other Financial Assets	6,923,207,563		4,749,971,153
Cash and Cash Equivalents	711,590,993		453,897,597
Total Current Assets	9,630,558,944		6,692,857,170
Total Assets	15,333,929,831		11,999,867,977
EQUITY AND LIABILITIES
Equity
Stated Capital	2,671,543,090		2,671,543,090
Revaluation Reserve	1,361,084,884		1,330,581,534
Retained Earnings	7,948,422,852		5,274,950,194
Total Equity	11,981,050,825		9,277,074,818
Non Current Liabilities
Employee Benefit Obligations	254,261,408		277,775,607
Deferred Tax Liabilities	1,212,337,694		509,403,686
Lease Liability	151,975,808		159,299,028
Total Non Current Liabilities	1,618,574,910		946,478,321
Current Liabilities
Trade & Other Payables	765,627,228		897,956,622
Lease Liability	87,055,794		88,743,012
Income Tax Payable	353,794,340		307,230,385
Bank Overdraft	527,826,734		482,384,819
Total Current Liabilities	1,734,304,096		1,776,314,838
Total Liabilities	3,352,879,006		2,722,793,159
Total Equity & Liabilities	15,333,929,831		11,999,867,977

Company

31st Dec 2022	31st Dec 2021
	Adjusted
Rs.	Rs.
4,683,680,411	4,301,558,172
422,523,261	429,779,632
37,422,214	44,027,531
155,000,000	146,700,000
414,000,020	414,000,020
5,712,625,906	5,336,065,355
716,850,386	302,956,360
798,782,611	741,534,986
133,716,741	111,739,308
5,241,046,466	3,865,026,810
624,549,496	344,671,757
7,514,945,700	5,365,929,222
13,227,571,606	10,701,994,577
2,671,543,090	2,671,543,090
1,266,920,410	1,240,031,685
6,124,927,684	4,028,861,195
10,063,391,185	7,940,435,970
218,336,229	242,422,163
1,136,551,969	467,144,831
70,469,960	72,911,716
1,425,358,158	782,478,710
1,048,501,117	1,347,711,015
49,344,349	60,541,838
190,568,078	209,660,055
450,408,719	361,166,990
1,738,822,263	1,979,079,897
3,164,180,421	2,761,558,607
13,227,571,606	10,701,994,577

The figures as at 31st December 2022 are provisional and subject to audit.

I certify that the consolidated financial statements comply with the requirements of the Companies Act No. 07 of 2007.

Group Chief Financial Officer

The Board of the Directors is responsible for the preparation and presentation of these consolidated financial statements. Approved and signed for and on behalf of the Board.

Chairman

Director

Date. 28th February 2023 Colombo

(Amounts in brackets indicate deductions)

THE LANKA HOSPITALS CORPORATION PLC

Provisional Consolidated Financial Statements for the Quarter ended 31st December 2022

Statement of Comprehensive Income

	Group		Company
For the 12 months ended,	31st Dec 2022	31st Dec 2021		31st Dec 2022	31st Dec 2021
	Rs.	Rs.		Rs.	Rs.
Revenue from contract with customers	10,697,887,913	10,033,566,919		7,957,422,116	6,707,009,994
Cost of services	(5,993,028,196)	(5,270,033,566)		(4,735,624,497)	(3,831,885,643)
Gross profit	4,704,859,717	4,763,533,353		3,221,797,619	2,875,124,351
Other operating income	86,061,173	137,071,511		89,323,513	402,902,844
Administrative expenses	(2,655,773,836)	(2,290,179,577)		(1,885,312,857)	(1,651,142,363)
Other operating expenses	(925,938,123)	(751,460,532)		(817,014,117)	(675,550,401)
Change in fair value of investment property	-	-		8,300,000	4,700,000
Profit from operations	1,209,208,931	1,858,964,755		617,094,158	956,034,431
Finance income	2,882,371,900	406,270,332		2,642,642,732	379,256,241
Finance Cost	(30,383,252)	(32,598,348)		(16,332,997)	(18,417,008)
Profit before tax	4,061,197,580	2,232,636,739		3,243,403,892	1,316,873,664
Income tax expense	(814,341,217)	(21,121,266)		(565,289,886)	103,736,728
Profit for the period	3,246,856,363	2,211,515,473		2,678,114,006	1,420,610,392
Other comprehensive Income
Surplus on revaluation of property, plant and equipment	417,765,345	-		390,893,155	-
Actuarial gains / (losses) on defined benefit obligations	65,737,297	47,039,308		58,408,293	41,802,407
Defferred tax on depreciation of revalued assets	(125,329,604)	-		(117,267,946)	-
Effect on deferred tax due to rate change	(210,135,698)	289,330,721		(198,473,298)	280,288,121
Income tax on other comprehensive income	(19,721,189)	(6,585,503)		(17,522,488)	(5,852,337)
Other comprehensive income net of tax	128,316,151	329,784,526		116,037,716	316,238,191
Total comprehensive income for the period	3,375,172,514	2,541,299,999		2,794,151,722	1,736,848,583
Basic earnings per share	14.51	9.88	11.97	6.35
Dividend per share	3.00	1.75	3.00	1.75
(Amounts in brackets indicate deductions)

THE LANKA HOSPITALS CORPORATION PLC

Provisional Consolidated Financial Statements for the Quarter ended 31st December 2022

Statement of Comprehensive Income

	Group		Company
For the 3 months ended,	31st Dec 2022	31st Dec 2021		31st Dec 2022	31st Dec 2021
	Rs.	Rs.		Rs.	Rs.
Revenue from contract with customers	2,800,743,864	2,660,633,491		2,183,881,218	1,768,323,544
Cost of services	(1,646,045,333)	(1,452,077,535)		(1,328,280,596)	(1,028,699,363)
Gross profit	1,154,698,530	1,208,555,956		855,600,623	739,624,181
Other operating income	39,189,097	91,110,788		39,285,509	96,214,751
Administrative expenses	(692,875,373)	(623,107,674)		(491,954,351)	(449,199,317)
Other operating expenses	(291,463,181)	(207,332,958)		(248,381,249)	(179,624,003)
Change in fair value of investment property	-	-		8,300,000	4,700,000
Profit from operations	209,549,074	469,226,111		162,850,532	211,715,612
Finance income	352,911,356	76,167,302		233,507,372	66,541,729
Finance Cost	(7,551,909)	(7,673,210)		(3,579,813)	(4,292,245)
Profit before tax	554,908,521	537,720,203		392,778,091	273,965,096
Income tax expense	(528,544,974)	23,646,274		(393,522,499)	72,289,424
Profit for the period	26,363,547	561,366,476		(744,408)	346,254,520
Other comprehensive Income
Surplus on revaluation of property, plant and equipment	417,765,345	-		390,893,155	-
Actuarial gains / (losses) on defined benefit obligations	65,737,297	47,039,308		58,408,293	41,802,407
Defferred tax on depreciation of revalued assets	(125,329,604)	-		(117,267,946)	-
Effect on deferred tax due to rate change	(210,135,698)	289,330,721		(198,473,298)	280,288,121
Income tax on other comprehensive income	(19,721,189)	(6,585,503)		(17,522,488)	(5,852,337)
Other comprehensive income net of tax	128,316,151	329,784,526		116,037,716	316,238,191
Total comprehensive income for the period	154,679,699	891,151,003		115,293,308	662,492,711
Basic earnings per share	0.12	2.51	(0.00)	1.55
Dividend per share	-	-	-	-
(Amounts in brackets indicate deductions)