SRI LANKA TELECOM PLC Sri Lanka Telecom PLC
Interim Condensed Consolidated Financial Statements
For the Quarter ended
31 December 2022
Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income
(All amounts in LKR Millions ) | ||
Group | ||
Oct - Dec | ||
2022 | 2021 | |
(Reviewed) | (Reviewed) | |
Revenue | ||
28,099 | 25,749 | |
Direct costs | (16,105) | (14,673) |
Gross Profit | 11,994 | 11,076 |
Sales and marketing costs | (2,705) | (2,995) |
Administrative costs | (6,256) | (5,466) |
Operating profit | 3,033 | 2,615 |
Other income | 319 | 492 |
Dividend Income from subsidiaries | ||
- and associates | - | - |
Interest expenses and finance cost | (2,057) | (674) |
Foreign exchange (loss) / gain | (1,073) | 47 |
Interest income | 908 | 315 |
Share of profit from equity | ||
- accounted investee | 44 | 17 |
Profit before tax | 1,174 | 2,812 |
Income tax expenses | (2,463) | 164 |
Profit for the Period | (1,289) | 2,976 |
Other comprehensive income | ||
Defined benefit plan actuarial gain/ | ||
(loss) | (2,738) | 751 |
Tax on other comprehensive income | 721 | (157) |
Other comprehensive income for the | ||
period (net of tax) | (2,017) | 594 |
Total Comprehensive Income for the | ||
Period | (3,306) | 3,570 |
Profit Attributable to : | ||
Owners of the company | (1,296) | 2,975 |
Non-controlling interest | 7 | 1 |
Total Comprehensive Income | (1,289) | 2,976 |
attributable to: | ||
Owners of the company | (3,313) | 3,569 |
Non-controlling interest | 7 | 1 |
Earnings per share | (3,306) | 3,570 |
(0.72) | 1.65 | |
- Basic (Rs.) |
Company
Oct - Dec
2022 2021
(Reviewed) (Reviewed)
18,149 | 15,138 |
(9,484) | (9,515) |
8,665 | 5,623 |
(1,593) | (1,614) |
(4,584) | (4,178) |
2,488 | (169) |
320 | 483 |
- 250
(1,819) (383)
- (71)
60491
4417
1,156 218
(2,022) | 545 |
- 763
(2,573) | 524 |
678 (126)
(1,895) | 398 |
(2,761) | 1,161 |
- 763
- | - |
- 763
(2,761) | 1,161 |
- | - |
(2,761) | 1,161 |
(0.48) | 0.42 |
Group
Jan - Dec
2022 | 2021 |
(Reviewed) | (Audited) |
107,710 | 102,348 |
(62,351) | (56,482) |
45,359 | 45,866 |
(10,827) | (11,157) |
(22,014) | (20,865) |
12,518 | 13,844 |
1,352 | 1,084 |
112-
(4,894) (3,022)
(1,680)(482)
2,956 | 1,308 |
22486
10,588 12,818
(5,823)(657)
4,765 12,161
- 397
183(150)
- 247
4,440 12,408
4,758 | 12,155 |
76
4,765 12,161
4,433 | 12,402 |
76
4,440 12,408
2.646.73
Company
Jan - Dec
2022 | 2021 |
(Reviewed) | (Audited) |
67,569 | 59,811 |
(38,542) | (34,919) |
29,027 | 24,892 |
(6,066) | (5,599) |
(17,004) | (15,957) |
5,957 | 3,336 |
1,083 | 1,293 |
2,297 | 1,489 |
(3,782) | (1,825) |
5,152 | 76 |
1,717 | 630 |
22486
12,648 5,085
(4,185) | 780 |
8,463 | 5,865 |
- 169
143(116)
- 53
8,262 5,918
8,463 | 5,865 |
- | - |
8,463 | 5,865 |
8,262 | 5,918 |
- | - |
8,262 | 5,918 |
4.693.25
-2-
Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Financial Position
(All amounts in LKR Millions ) | |||||
Group | Company | ||||
31 Dec 2022 | 31 Dec 2021 | 31 Dec 2022 | 31 Dec 2021 | ||
(Reviewed) | (Audited) | (Reviewed) | (Audited) | ||
Assets | |||||
Non-Current Assets | |||||
Property,plant and equipment | 164,916 | 141,937 | 127,061 | 105,854 | |
Right-of-use assets | 6,899 | 7,815 | 613 | 805 | |
Intangible assets and goodwill | 7,876 | 7,827 | 3,643 | 2,832 | |
Investments in subsidiaries | - | - | 14,431 | 14,431 | |
Investments in associates | 439 | 214 | 439 | 214 | |
Deferred tax assets | 177 | 181 | - | - | |
Investments In equity Shares | 2 | - | |||
Contract assets | 1,504 | 878 | 313 | 233 | |
Other receivables | 3,320 | 2,672 | 3,295 | 2,657 | |
Total Non-current Assets | 185,133 | 161,524 | 149,795 | 127,026 | |
Current Assets | 11,139 | 11,139 | |||
Inventories | 3,283 | 2,689 | 2,405 | 2,039 | |
Trade and other receivables | 32,533 | 26,909 | 23,677 | 18,682 | |
Current tax receivables | - | 14 | - | - | |
Deferred tax assets | 20 | - | - | ||
Contract assets | 1,470 | 978 | 122 | 164 | |
Other investments | 3,995 | 8,310 | 3,976 | 8,288 | |
Cash and cash equivalents | 14,150 | 17,972 | 6,051 | 1,615 | |
55,451 | 56,872 | 36,231 | 30,788 | ||
Assets classified as held for sale | - | 1,545 | - | 390 | |
Total Current Assets | 55,451 | 58,417 | 36,231 | 31,178 | |
Total Assets | 240,584 | 219,941 | 186,026 | 158,204 | |
Equity and Liabilities | |||||
Equity | |||||
Stated capital | 18,049 | 18,049 | 18,049 | 18,049 | |
Insurance reserve | 300 | 1,105 | 300 | 1,105 | |
Hedging reserve | - | - | - | - | |
Retained earnings | 74,024 | 74,714 | 51,197 | 46,518 | |
Equity attributable to equity shareholders of the company | 92,373 | 93,868 | 69,546 | 65,672 | |
Non controlling Interest | 115 | 108 | - | - | |
Total Equity | 92,488 | 93,976 | 69,546 | 65,672 | |
Non Current Liabilities | |||||
Borrowings | 30,332 | 37,837 | 30,332 | 35,807 | |
Vendor financing | 13,057 | 5,987 | 13,057 | 5,961 | |
Lease liability | 4,835 | 6,823 | 428 | 613 | |
Contract liabilities | 1,483 | 1,071 | 1,483 | 1,071 | |
Deferred income | 1,469 | 1,666 | 1,469 | 1,666 | |
Deferred tax liabilities | 9,066 | 5,627 | 8,002 | 4,870 | |
Employee benefits | 5,733 | 4,957 | 4,846 | 4,272 | |
Trade and other payables | 8,696 | 6,565 | 7,804 | 5,283 | |
Total Non Current Liabilities | 74,671 | 70,533 | 67,421 | 59,543 | |
Current Liabilities | |||||
Borrowings | 16,963 | 8,752 | 13,310 | 7,256 | |
Vendor financing | 4,269 | 311 | 1,745 | 171 | |
Lease liability | 2,661 | 2,373 | 227 | 216 | |
Contract liabilities | 972 | 971 | 716 | 684 | |
Deferred income | 3,852 | 3,924 | 221 | 383 | |
Current tax liabilities | 1,124 | 2,075 | 441 | 1,474 | |
Deferred tax liabilities | 12 | 11 | - | - | |
Trade and other payables | 43,572 | 35,605 | 32,399 | 22,805 | |
Liabilities directly associated with assets held for sale | 73,425 | 54,022 | 49,059 | 32,989 | |
- | 1,410 | - | - | ||
Total Current Liabilities | 73,425 | 55,432 | 49,059 | 32,989 | |
Total Liabilities | 148,096 | 125,965 | 116,480 | 92,532 | |
Total Equity and Liabilities | 240,584 | 219,941 | 186,026 | 158,204 |
I certify that these financial statements have been prepared in compliance with the requirements of the Companies Act No.07 of 2007. Signed
Sanjeewa Samaranayake
Group Chief Financial Officer
The Board of Directors is responsible for these financial statements.These financial statements were approved by the Board of Directors on 16 February 2023.
Signed for and behalf of the Board.
Signed | Signed |
Rohan Fernando | K.A.Vimalenthirarajah |
Chairman | Director |
-3- |
Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Changes In Equity
For the year ended 31 December 2022
(All amounts in LKR Millions ) | |||||||
Group | Attributable to owners of the Company | ||||||
Hedging | Non | ||||||
Stated | Insurance | Retained | Total | controlling | Total | ||
capital | reserve | reserve | earnings | interest | equity | ||
Balance as at 1 January 2021 | 18,049 | 1,044 | 30 | 65,056 | 84,179 | 102 | 84,281 |
Non Controlling interest | - | - | - | - | - | 6 | 6 |
Total comprehensive income for the year | |||||||
Net profit for the year | - | - | - | 12,161 | 12,161 | - | 12,161 |
Other comprehensive income / (expense) | |||||||
Net movement on cash flow hedges | - | - | (30) | - | (30) | - | (30) |
Defined benefit plan actuarial gain,net of tax | - | - | - | 247 | 247 | - | 247 |
Total other comprehensive income for the year | - | - | (30) | 247 | 217 | - | 217 |
Total comprehensive income for the year | - | - | (30) | 12,408 | 12,378 | - | 12,378 |
Transactions with owners, recorded directly in equity | |||||||
Contribution by and distribution to owners | |||||||
Dividends to equity share holders | - | - | - | (2,689) | (2,689) | - | (2,689) |
Insurance reserve | |||||||
Transferred to insurance reserve | - | 61 | - | (61) | - | - | - |
Balance as at 31 December 2021 | 18,049 | 1,105 | - | 74,714 | 93,868 | 108 | 93,976 |
Balance as at 1 January 2022 | 18,049 | 1,105 | - | 74,714 | 93,868 | 108 | 93,976 |
Prior year adjustment - Surcharge Tax | - | - | - | (2,289) | (2,289) | - | (2,289) |
Non controlling interest | - | - | - | - | - | 7 | 7 |
Total comprehensive income for period | |||||||
Net profit for the period | - | - | - | 4,765 | 4,765 | - | 4,765 |
Other comprehensive income | |||||||
Defined benefit plan actuarial gain,net of tax | - | - | - | (325) | (325) | - | (325) |
Total other comprehensive income for period | - | - | - | (325) | (325) | - | (325) |
Total comprehensive income for the period | - | - | - | 4,440 | 4,440 | - | 4,440 |
Transactions with owners, recorded directly in equity | |||||||
Contribution by and distribution to owners | |||||||
Dividends to equity share holders | - | - | - | (3,646) | (3,646) | - | (3,646) |
Insurance reserve | |||||||
Transferred to insurance reserve | - | (805) | - | 805 | - | - | - |
Balance as at 31 December 2022 | 18,049 | 300 | - | 74,024 | 92,373 | 115 | 92,488 |
-4-
Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Changes In Equity
For the year ended 31 December 2022
(All amounts in LKR Millions ) | ||||
Company | Attributable to owners of the Company | |||
Stated | Insurance | Retained | Total | |
capital | reserve | earnings | ||
Balance as at 1 January 2021 | 18,049 | 1,044 | 43,350 | 62,443 |
Total comprehensive income for the year | ||||
Net profit for the year | - | - | 5,865 | 5,865 |
Other comprehensive income / (expense) | ||||
Defined benefit plan actuarial gain,net of tax | - | - | 53 | 53 |
Total other comprehensive income for the year | - | - | 53 | 53 |
Total comprehensive income for the year | - | - | 5,918 | 5,918 |
Transactions with owners,recorded directly in equity | ||||
Contribution by and distribution to owners | ||||
Dividends to equity share holders | - | - | (2,689) | (2,689) |
Insurance reserve | ||||
Transferred to insurance reserve | - | 61 | (61) | - |
Balance as at 31 December 2021 | 18,049 | 1,105 | 46,518 | 65,672 |
Balance as at 1 January 2022 | 18,049 | 1,105 | 46,518 | 65,672 |
Prior year adjustment - Surcharge Tax | - | - | (742) | (742) |
Total comprehensive income for period | ||||
Net profit for the period | - | - | 8,463 | 8,463 |
Other comprehensive income / (expense) | ||||
Defined benefit plan actuarial gain,net of tax | - | - | (201) | (201) |
Total other comprehensive income for period | - | - | (201) | (201) |
Total comprehensive income for the period | - | - | 8,262 | 8,262 |
Transactions with owners,recorded directly in equity | ||||
Contribution by and distribution to owners | ||||
Dividends to equity share holders | - | - | (3,646) | (3,646) |
Insurance reserve | ||||
Transferred to insurance reserve | - | (805) | 805 | - |
Balance as at 31 December 2022 | 18,049 | 300 | 51,197 | 69,546 |
-5-
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Sri Lanka Telecom plc published this content on 17 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 February 2023 11:05:49 UTC.
