Overseas Realty Ceylon : ORCL Quarterly Financial Statements as at 30th June 2022

COMPANY

GROUP

30/06/2022

31/12/2021

30/06/2022

31/12/2021

(Audited)

(Audited)

Rs. '000

Rs. '000

Rs. '000

Rs. '000

ASSETS

Non-Current Assets

Investment Property

26,719,743

26,548,458

27,617,899

27,446,614

Investment Property Under Development

-

-

35,153,716

25,637,157

Property, Plant & Equipment

423,216

417,614

1,232,016

1,218,350

Intangible Assets

9,133

11,427

9,133

11,427

Investments in Subsidiaries

13,708,885

13,708,885

-

-

Inventories

-

-

89,481

89,481

Other Financial Assets

491,600

506,600

-

-

Total Non-Current Assets

41,352,576

41,192,984

64,102,245

54,403,029

Current Assets

Inventories

14,703

9,629

3,548,674

7,826,138

Trade and Other Receivables

590,346

549,749

4,502,359

5,394,979

Other Financial Assets

175,400

44,711

131,628

-

Income Tax Recoverable

-

-

4,599

1,549

Short Term Investments

3,033,329

1,820,118

3,033,329

1,820,118

Cash & Cash Equivalents

37,434

836,917

1,066,901

1,696,471

Total Current Assets

3,851,212

3,261,124

12,287,490

16,739,255

Total Assets

45,203,789

44,454,108

76,389,735

71,142,284

EQUITY & LIABILITIES

Equity Attributable to Equity Holders of the P

arent

Stated Capital

18,443,353

18,443,353

18,443,353

18,443,353

Revaluation Reserve

407,025

397,599

447,129

437,703

Retained Earnings

23,292,216

23,651,666

30,505,157

28,240,006

Total Equity

42,142,595

42,492,618

49,395,640

47,121,062

Non-Current Liabilities

Post Employment Benefit Liability

32,529

30,899

55,959

56,708

Amounts due to Related Parties

-

-

18,453,532

10,052,737

Differed Tax Liabilities

538,703

538,703

639,815

721,101

Total Non-Current Liabilities

571,232

569,602

19,149,306

10,830,546

Current Liabilities

Trade & Other Payables

147,818

340,237

980,796

3,066,930

Rental & Customer Deposits

1,160,603

952,973

2,557,901

1,689,691

Interest Bearing Loans & Borrowings

-

-

2,656,934

8,102,113

Income Tax Payable

15,458

74,272

483,075

307,536

Dividend Payable

1,166,082

24,406

1,166,082

24,406

Total Current Liabilities

2,489,962

1,391,888

7,844,789

13,190,676

Total Liabilities

3,061,194

1,961,490

26,994,095

24,021,222

Total Equity & Liabilities

45,203,789

44,454,108

76,389,735

71,142,284

All figures are provisional and subject to audit, unless otherwise stated.

30/06/2022

31/12/2021

Net Asset Value Per Share (Rs)

39.74

37.91

COMPANY

Quarter Ended

Six Month Ended

Quarter Ended

Six Month Ended

Variance

30/06/2022

30/06/2022

30/06/2021

30/06/2021

%

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rental Income

526,733

1,041,417

472,041

1,009,042

3%

Other Services

7,604

19,545

8,152

5,515

254%

Total Revenue

534,337

1,060,962

480,193

1,014,557

5%

Direct Operating Expenses

(126,277)

(252,553)

(126,088)

(251,969)

0%

Gross Profit

408,060

808,409

354,105

762,588

6%

Fair Value Gain / (Loss) on Investment Property

171,285

171,285

(257,297)

(257,297)

167%

Administration Expenses

(50,712)

(100,678)

(43,365)

(84,688)

-19%

Exchange Gain / (Loss)

69,292

167,637

14,376

14,001

High

Finance Cost

-

-

-

-

0%

Finance Income

99,961

149,001

25,530

63,623

134%

Dividend Income

-

55,000

-

-

-

Profit Before Tax

697,887

1,250,655

93,348

498,227

151%

Income Tax Expense

(34,031)

(56,318)

(19,337)

(41,774)

-35%

Profit After Tax

663,856

1,194,337

74,011

456,453

162%

GROUP

Quarter Ended

Six Month

Quarter Ended

Six Month

Variance

Ended

Ended

30/06/2022

30/06/2022

30/06/2021

30/06/2021

%

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rental Income

547,716

1,083,383

493,018

1,050,798

3%

Sale of Apartments

2,858,038

9,284,870

903,812

1,665,068

458%

Other Services

81,494

169,840

153,527

241,724

-30%

Total Revenue

3,487,248

10,538,093

1,550,357

2,957,590

256%

Direct Operating Expenses

(173,328)

(351,220)

(539,265)

(728,314)

52%

Cost of Sales of Apartments

(2,066,368)

(6,025,041)

(197,284)

(848,673)

-610%

Gross Profit

1,247,552

4,161,832

813,808

1,380,603

201%

Fair Value Gain / (Loss) on Investment Property

171,285

171,285

(257,297)

(257,297)

0%

Administration Expenses

(145,490)

(281,027)

(183,451)

(259,484)

-8%

Exchange Gain / (Loss)

91,554

245,229

14,728

23,685

High

Marketing & Promotional Expenses

(63,662)

(123,477)

(27,453)

(49,039)

-152%

Finance Cost

(219)

(762)

(2,736)

(6,589)

88%

Finance Income

101,219

148,621

27,658

67,209

121%

Other income

7,268

24,240

3,015

5,465

344%

Profit Before Tax

1,409,507

4,345,941

388,271

904,552

380%

Income Tax Expense

(145,716)

(527,002)

(61,410)

(100,387)

-425%

Profit After Tax

1,263,791

3,818,939

326,861

804,165

375%

All figures are provisional and subject to audit, unless otherwise stated.

Accounting Ratios As At

30/06/2022

30/06/2021

Quarter

Six Months

Quarter

Six Months

Dividends Per Share (Rs)

1.25

-

Interest Cover (Times)

High

High

Debt/Equity Ratio (Times)

0.05

0.20

Quick Asset Ratio (Times)

0.32

0.35

Earnings Per Share

1.02

3.07

0.26

0.65

The Company or its subsidiaries do not have listed debt

(Rs)

(Rs)

Performance at the CSE during the Quarter Ended

30/06/2022

30/06/2021

Last Traded Price

13.30

15.50

High

14.50

16.10

Low

13.30

15.10

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

COMPANY

GROUP

Six Months Ended

Six Months Ended

Six Months Ended

Six Months Ended

30/06/2022

30/06/2021

30/06/2022

30/06/2021

Rs. 000

Rs. 000

Rs. 000

Rs. 000

Profit For the Period

1,194,337

456,453

3,818,939

804,165

Revaluation of Land and Buildings

9,426

-

9,426

-

Differed Tax Effect

-

-

-

-

Accurial Gain/(Loss)

-

-

-

-

Differed Tax Effect

-

-

-

-

Other Comprehensive Income for the Period, Net of Tax

9,426

-

9,426

-

Total Comprehensive Income for the Period, Net of Tax

1,203,763

456,453

3,828,365

804,165

Attributable to:

Equity Holders of the Parent

3,828,365

804,165

Non-controlling Interest

-

-

3,828,365

804,165