LOLC HOLDINGS PLC
INTERIM CONDENSED FINANCIAL STATEMENTS
FOR THE NINE MONTHS ENDED 31 DECEMBER 2021
LOLC Holdings PLC
Interim Condensed Financial Statements
For the nine months ended 31 December 2021
Content
- Statement of Financial Position
- Statement of Profit or Loss
- Statement of Other Comprehensive Income
- Statement of Changes in Equity
- Statement of Cash Flows
6 - 7 Notes to the Interim Financial Statements
- Operating Segments
- Valuation of Financial Assets and Liabilities
- Statement of Directors' Holding and Chief Executive Officer's holding in Shares of the Entity
- Top 20 Shareholders
- Information on Listed Debentures
Page 2 of 22
LOLC Holdings PLC
Interim Condensed Financial Statements
Statement of Financial Position
Group | Company | Group | Company | |||||||
31-Mar-21 | 31-Mar-21 | As at | Note | 31-Dec-21 | 31-Dec-20 | 31-Dec-21 | 31-Dec-20 | 1-Apr-20 | ||
Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 | ||||
Audited | Audited | Un-audited | Un-audited | Un-audited | Un-audited | Un-audited | ||||
Restated | Restated |
Assets
58,233,361 | 1,698,848 | Cash and cash equivalents |
54,009,659 | 4,898,917 | Financial assets recognised through profit or loss |
67,241,121 | 17,497,242 | Investment securities |
4,794 | - | Assets directly associated with the assets held for sale and discontinued |
operations | ||
60,832,278 | 2,381 | Financial assets at amortised cost/ Finance lease receivables, hire purchases |
and operating leases | ||
362,954,556 | 9,215,716 | Financial assets at amortised cost/ Advances and other loans |
1,521,396 | - | Premium receivables |
9,569,013 | 280,255 | Inventories |
1,750,335 | 229,275 | Current tax assets |
24,596,286 | 32,820,828 | Trade and other current assets |
22,232,060 | 574,131 | Right-of-use assets |
46,202,228 | 1,064,850 | Investment properties |
Biological assets; | ||
4,007,383 | - | Consumable biological assets |
2,423,963 | - | Bearer biological assets |
Investments in group of companies; |
- 92,504,806 Subsidiary companies
23,766,575 | 4,666,193 | Equity Accounted Investees | |
1,635,625 | - | Deferred tax assets | |
4,145,330 | 336,810 | Intangible assets | |
129,817,565 | 5,320,318 | Property, plant and equipment | |
874,943,528 | 171,110,570 | ||
Liabilities and equity | |||
Liabilities | |||
4,130,481 | 587,043 | Bank overdrafts |
- - Trading liabilities
- | - | Liabilities directly associated with the assets held for sale and discontinued | |
operations | |||
263,592,537 | - | Financial Liabilities at Amortised Cost/ Deposits liabilities | |
315,609,582 | 105,175,386 | Financial Liabilities at Amortised Cost/ Interest bearing borrowings | |
5,423,423 | - | Insurance provision - life | |
4,737,157 | - | Insurance provision - general | |
7,240,881 | 694,370 | Current tax payables | |
29,127,290 | 7,023,207 | Trade and other payables | |
7,650,172 | 711,023 | Deferred tax liabilities | |
143,175 | - | Deferred income | |
2,020,562 | 304,986 | Retirement benefit obligations | |
639,675,260 | 114,496,016 | Total liabilities | |
65,608,279 | 71,784,582 | 5,538,891 | 966,068 | 1,611,459 | ||||
22,956,349 | 5,293,716 | 2,501,020 | 145 | 263,429 | ||||
90,612,506 | 95,436,101 | 14,305,047 | 8,480,686 | 3,261,861 | ||||
7 | 10,734 | 62,435 | - | - | - | |||
68,208,828 | 64,836,197 | 1,507 | 2,284 | 2,440 | ||||
396,714,321 | 332,495,872 | 8,715,806 | 3,213,185 | 5,510,840 | ||||
1,499,815 | 1,539,526 | - | - | - | ||||
14,711,846 | 8,378,554 | 305,195 | 505,659 | 380,379 | ||||
1,872,804 | 1,799,091 | 188,013 | 206,023 | 198,824 | ||||
84,655,326 | 27,156,058 | 74,268,593 | 50,262,040 | 32,995,285 | ||||
26,247,553 | 18,359,270 | - | 607,326 | 642,362 | ||||
52,142,661 | 44,602,591 | 1,913,881 | 1,017,250 | 1,017,250 | ||||
6,738,536 | 3,919,322 | - | - | - | ||||
4,450,557 | 2,223,213 | - | - | - | ||||
- | - | 179,474,561 | 130,972,578 | 122,230,192 | ||||
25,105,765 | 23,450,091 | 23,767,976 | 20,254,676 | 18,440,493 | ||||
1,622,337 | 932,953 | - | - | - | ||||
4,689,763 | 1,508,691 | 270,686 | 356,571 | 413,539 | ||||
131,005,014 | 116,178,250 | 4,286,924 | 4,726,839 | 4,772,437 | ||||
998,852,994 | 819,956,513 | 315,538,100 | 221,571,330 | 191,740,790 | ||||
5,188,634 | 5,720,713 | 433,066 | 434,802 | 1,039,522 | ||||
209,965 | 1,599,115 | 44,402 | 1,493,536 | - | ||||
7 | 56 | 2,433 | - | - | - | |||
272,989,147 | 239,077,197 | - | - | - | ||||
366,540,123 | 284,171,295 | 144,756,341 | 104,030,223 | 95,412,795 | ||||
6,269,606 | 5,221,855 | - | - | - | ||||
5,575,362 | 4,318,643 | - | - | - | ||||
12,109,721 | 8,346,108 | 720,429 | 655,243 | 660,323 | ||||
71,208,729 | 39,356,436 | 10,861,307 | 2,073,654 | 1,390,052 | ||||
8,266,665 | 4,877,959 | 711,024 | 385,000 | 384,999 | ||||
467,910 | 150,859 | - | - | - | ||||
3,146,578 | 2,072,294 | 318,758 | 336,222 | 320,392 | ||||
751,972,496 | 594,914,907 | 157,845,327 | 109,408,680 | 99,208,083 | ||||
Equity | |||||||||||
475,200 | 475,200 | Stated capital (475,200,000 shares) | 475,200 | 475,200 | 475,200 | 475,200 | 475,200 | ||||
40,593,434 | 11,439,802 | Reserves | 45,539,638 | 29,437,393 | 45,539,638 | 29,437,393 | 28,790,432 | ||||
97,388,049 | 44,699,552 | Retained earnings | 111,677,935 | 82,250,057 | 111,677,935 | 82,250,057 | 63,267,075 | ||||
138,456,683 | 56,614,554 | Equity attributable to shareholders of the Company | 157,692,773 | 112,162,650 | 157,692,773 | 112,162,650 | 92,532,707 | ||||
96,811,585 | - | Non-controlling interests | 89,187,725 | 112,878,956 | - | - | - | ||||
235,268,268 | 56,614,554 | Total equity | 246,880,498 | 225,041,606 | 157,692,773 | 112,162,650 | 92,532,707 | ||||
874,943,528 | 171,110,570 | Total liabilities & equity | 998,852,994 | 819,956,513 | 315,538,100 | 221,571,330 | 191,740,790 | ||||
291.37 | 119.14 | Net assets per share (Rs.) | 331.85 | 236.03 | 331.85 | 236.03 | 194.72 |
I certify that these Financial Statements have been prepared and presented in compliance with the requirements of the Companies Act, No.07 of 2007.
Sgd
Mrs. S.S. Kotakadeniya
Chief Financial Officer - LOLC Group
The board of directors is responsible for the preparation and the fair presentation of these Financial Statements.
Approved and signed for and on behalf of the Board;
Sgd | Sgd |
Mr. W.D.K. Jayawardena | Mrs. K U Amarasinghe |
Group Managing Director/CEO | Director |
15th February 2022
Rajagiriya (Greater Colombo)
Page 3 of 22
LOLC Holdings PLC | |||||||||||||
Interim Condensed Financial Statements | |||||||||||||
Statement of Profit or Loss | Group | ||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
Note | 31-Dec-21 | 31-Dec-20 | Variance | 31-Dec-21 | 31-Dec-20 | Variance | |||||||
Rs'000 | Rs'000 | % | Rs'000 | Rs'000 | % | ||||||||
Un-audited | Un-audited | Un-audited | Un-audited | ||||||||||
Continuing operations | |||||||||||||
Gross income | 47,363,255 | 40,342,288 | 17 | 138,331,533 | 112,579,840 | 23 | |||||||
Interest income | 25,581,774 | 21,658,288 | 18 | 72,716,754 | 64,951,096 | 12 | |||||||
Interest expense | (13,143,260) | (11,555,475) | (14) | (38,568,602) | (37,330,341) | (3) | |||||||
Net interest income/(Expense) | 12,438,514 | 10,102,813 | 23 | 34,148,152 | 27,620,755 | 24 | |||||||
Revenue | 13,641,745 | 7,657,752 | 78 | 36,591,924 | 21,986,468 | 66 | |||||||
Cost of sales | (9,388,289) | (5,267,243) | (78) | (26,134,940) | (14,771,985) | (77) | |||||||
Gross profit | 4,253,456 | 2,390,509 | 78 | 10,456,984 | 7,214,483 | 45 | |||||||
Income | 5,668,891 | 4,668,848 | 21 | 14,478,857 | 15,286,200 | (5) | |||||||
Other income/(expenses) | 2,470,845 | 6,357,400 | (61) | 14,543,998 | 10,356,076 | 40 | |||||||
Profit/(Loss) before operating expenses | 24,831,706 | 23,519,570 | 6 | 73,627,991 | 60,477,514 | 22 | |||||||
Operating expenses | |||||||||||||
Direct expenses excluding finance costs | (4,028,409) | (2,409,348) | (67) | (8,460,242) | (5,457,242) | (55) | |||||||
Personnel Expenses | (6,111,815) | (4,772,429) | (28) | (16,873,916) | (13,592,235) | (24) | |||||||
Net impairment (loss) / reversal on financial assets | 1,091,771 | (6,482,276) | 117 | (5,606,021) | (22,894,167) | 76 | |||||||
Depreciation and amortization | (1,819,824) | (1,438,863) | (26) | (4,288,981) | (3,755,675) | (14) | |||||||
Other operating expenses | (5,036,438) | (3,587,444) | (40) | (12,500,338) | (10,372,042) | (21) | |||||||
Results from operating activities | 8,926,991 | 4,829,210 | 85 | 25,898,493 | 4,406,153 | 488 | |||||||
Share of profits of equity accounted investees, net of tax | 961,822 | 365,042 | 163 | 1,666,043 | 767,072 | 117 | |||||||
Results on acquisition and divestment of Group investments | 1,408,879 | 91,456 | 1,440 | 1,809,753 | 42,996,098 | (96) | |||||||
Profit/ (loss) before tax from continuing operations | 11,297,692 | 5,285,708 | 114 | 29,374,289 | 48,169,323 | (39) | |||||||
Income tax expense | (1,584,756) | (1,238,973) | (28) | (5,019,865) | (2,844,420) | (76) | |||||||
Profit/ (loss) for the period from continuing operations | 9,712,936 | 4,046,735 | 140 | 24,354,424 | 45,324,903 | (46) | |||||||
Discontinued operations | |||||||||||||
Profit/(loss) after tax for the year from discontinued operations and assets held for sale | 6.8 | 5,849 | (31) | 18,968 | 5,750 | 671 | 757 | ||||||
Profit for the period | 9,718,785 | 4,046,704 | 140 | 24,360,174 | 45,325,574 | (46) | |||||||
Profit/ (loss) attributable to; (Continuing operations) | |||||||||||||
Equity holders of the company | 9,196,255 | 3,420,120 | 169 | 21,965,874 | 20,805,301 | 6 | |||||||
Non-controlling interests | 516,681 | 626,615 | (18) | 2,388,550 | 24,519,602 | (90) | |||||||
9,712,936 | 4,046,735 | 140 | 24,354,424 | 45,324,903 | (46) | ||||||||
Profit/ (loss) attributable to; (Discontinued operations operations) | |||||||||||||
Equity holders of the Company | 3,499 | (16) | 21,969 | 3,440 | 339 | 915 | |||||||
Non-controlling interests | 2,350 | (15) | 15,767 | 2,310 | 332 | 596 | |||||||
5,849 | (31) | 18,968 | 5,750 | 671 | 757 | ||||||||
Profit attributable to; | |||||||||||||
Equity holders of the Company | 9,199,753 | 3,420,105 | 169 | 21,969,313 | 20,805,641 | 6 | |||||||
Non-controlling interests | 519,032 | 626,599 | (17) | 2,390,861 | 24,519,933 | (90) | |||||||
9,718,785 | 4,046,704 | 140 | 24,360,174 | 45,325,574 | (46) |
Figures in brackets indicate deductions.
The above figures are not audited
Page 4 of 22
LOLC Holdings PLC | ||||||||||||
Interim Condensed Financial Statements | ||||||||||||
Statement of Other Comprehensive Income | Group | |||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
31-Dec-21 | 31-Dec-20 | Variance | 31-Dec-21 | 31-Dec-20 | Variance | |||||||
Rs'000 | Rs'000 | % | Rs'000 | Rs'000 | % | |||||||
Un-audited | Un-audited | Un-audited | Un-audited | |||||||||
Profit for the period | 9,718,785 | 4,046,704 | 140 | 24,360,174 | 45,325,574 | (46) | ||||||
Other comprehensive income | ||||||||||||
Net other comprehensive income that will never be reclassified to profit or loss in | ||||||||||||
subsequent periods: | ||||||||||||
Revaluation surplus of property, plant and equipment | ||||||||||||
Revaluation of property, plant and equipment | 862,348 | 1,058,498 | (19) | 862,348 | 16,564,438 | (95) | ||||||
Related tax | - | (13,476) | 100 | - | (13,476) | 100 | ||||||
Defined benefit plan actuarial gains / (losses) | ||||||||||||
Re-measurement of defined benefit liabilities | 7,591 | (65,421) | 112 | 7,569 | (65,421) | 112 | ||||||
Related tax | (58) | (37,774) | 100 | (58) | (37,774) | 100 | ||||||
Change in fair value on investments in equity instruments at fair value through other | ||||||||||||
comprehensive income | ||||||||||||
Fair value gains/(losses) that arose during the period | 208,917 | 11,748 | 1,678 | (116,510) | 150,261 | (178) | ||||||
Share of equity accounted investees | 364,452 | 372,002 | (2) | 556,935 | 372,002 | 50 | ||||||
Net other comprehensive income not to be reclassified to income statement in | ||||||||||||
subsequent periods | 1,443,250 | 1,325,577 | 9 | 1,310,284 | 16,970,030 | (92) | ||||||
Net other comprehensive income that are or may be reclassified to profit or loss in | ||||||||||||
subsequent periods : | ||||||||||||
Change in fair value on investments in debt instruments at fair value through other | ||||||||||||
comprehensive income | ||||||||||||
Fair value gains/(losses) that arose during the period | (347,544) | (43,681) | (696) | (626,344) | 68,583 | (1,013) | ||||||
Related tax | - | 1,946 | (100) | - | 1,946 | (100) |
Foreign currency translation differences for foreign operations
Net exchange gains/(losses) arising from translating the Financial Statements of foreign operations (*)
Transfer of translation reserve on disposed foreign subsidiary
Fair value differences on cash flow hedges
291,815 | 3,786,490 | (92) | (1,326,636) | 1,682,072 | (179) |
- | - | - | - | (4,623,648) | 100 |
Gain/(loss) on effective portion of changes in fair value of cash flow hedge | - | (28,765) | 100 | 23,303 | 60,442 | (61) | |||||
Net change in costs of hedging | - | (2,785) | 100 | - | 53,779 | (100) | |||||
Related tax | - | (16,921) | 100 | - | (16,921) | 100 | |||||
Share of equity accounted investees | (805,516) | 354,028 | (328) | (1,588,583) | 349,650 | (554) | |||||
Net other comprehensive income to be reclassified to income statement in subsequent | |||||||||||
periods | (861,245) | 4,050,312 | (121) | (3,518,260) | (2,424,097) | (45) | |||||
Total other comprehensive income/ (expense) for the period, net of tax | |||||||||||
582,005 | 5,375,889 | (89) | (2,207,976) | 14,545,933 | (115) | ||||||
Total comprehensive income for the period, net of tax | 10,300,790 | 9,422,593 | 9 | 22,152,198 | 59,871,507 | (63) | |||||
Total comprehensive income attributable to; | |||||||||||
Equity holders of the company | 10,201,768 | 6,255,952 | 63 | 20,543,580 | 21,134,270 | (3) | |||||
Non-controlling interests | 99,022 | 3,166,641 | (97) | 1,608,618 | 38,737,237 | (96) | |||||
10,300,790 | 9,422,593 | 9 | 22,152,198 | 59,871,507 | (63) | ||||||
Earnings per share | |||||||||||
Basic, profit for the year attributable to ordinary equity holders of the parent | 19.36 | 7.20 | 169 | 46.23 | 43.78 | 6 | |||||
Diluted, profit for the year attributable to ordinary equity holders of the parent | 19.36 | 7.20 | 169 | 46.23 | 43.78 | 6 | |||||
- | |||||||||||
Earnings per share for continuing operations | |||||||||||
Basic, profit/ (loss) from continuing operations attributable to ordinary equity holders of | |||||||||||
the parent | 19.35 | 7.20 | 169 | 46.22 | 43.78 | 6 | |||||
Diluted, profit/ (loss) from continuing operations attributable to ordinary equity holders of | |||||||||||
the parent | 19.35 | 7.20 | 169 | 46.22 | 43.78 | 6 |
Figures in brackets indicate deductions.
The above figures are not audited
Page 5 of 22
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
LOLC Holdings plc published this content on 15 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2022 11:56:10 UTC.