Sri Lanka Telecom PLC

Interim Condensed Consolidated Financial Statements

For the Quarter ended

31 March 2023

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

Jan - Mar

2023

2022

(Reviewed)

(Reviewed)

Revenue

26,554

26,001

Direct costs

(15,885)

(14,762)

Gross Profit

10,669

11,239

Sales and marketing costs

(2,799)

(2,694)

Administrative costs

(5,772)

(5,310)

Operating profit

2,098

3,235

Other income

759

574

Interest expenses and finance cost

(2,223)

(732)

Foreign exchange gain/ (loss)

408

(205)

Interest income

553

510

Share of (loss) / profit from equity

- accounted investee

(5)

73

Profit before tax

1,590

3,455

Income tax expenses

(633)

(790)

Profit for the Period

957

2,665

Other comprehensive income

Defined benefit plan actuarial gain/ (loss)

306

98

Tax on other comprehensive income

(92)

(25)

Other comprehensive income for the

period (net of tax)

214

73

Total Comprehensive Income for the

Period

1,171

2,738

Profit Attributable to :

Owners of the company

956

2,662

Non-controlling interest

1

3

Total Comprehensive Income attributable

957

2,665

to:

Owners of the company

1,170

2,735

Non-controlling interest

1

3

1,171

2,738

Earnings per share

0.53

1.47

- Basic (Rs.)

Company

Jan - Mar

2023

2022

(Reviewed)

(Reviewed)

17,560

15,866

(9,844)

(9,221)

7,716

6,645

(1,282)

(1,359)

(4,461)

(4,155)

1,973

1,131

818290

(1,951)

(483)

  1. 3,262
  1. 260
  1. 73
  1. 4,533
  1. (416)

626 4,117

304

97

  1. (24)

21373

839 4,190

626 4,117

-

-

626 4,117

839 4,190

-

-

839 4,190

0.352.28

-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 Mar 2023

31 Dec 2022

31 Mar 2023

31 Dec 2022

(Reviewed)

(Audited)

(Reviewed)

(Audited)

Assets

Non-Current Assets

Property,plant and equipment

171,349

164,916

133,472

127,061

Right-of-use assets

6,790

6,899

803

613

Intangible assets and goodwill

8,632

7,876

3,398

3,643

Investments in subsidiaries

-

-

14,431

14,431

Investments in associates

433

439

433

439

Deferred tax assets

199

177

-

-

Investments In equity Shares

2

2

-

-

Contract assets

1,414

1,504

319

313

Other receivables

3,400

3,320

3,375

3,295

Total Non-current Assets

192,219

185,133

156,231

149,795

Current Assets

Inventories

3,648

3,283

2,546

2,405

Trade and other receivables

33,120

32,533

23,658

23,677

Current tax receivables

64

20

-

-

Contract assets

1,504

1,470

127

122

Other investments

692

3,995

672

3,976

Cash and cash equivalents

13,418

14,150

5,550

6,051

Total Current Assets

52,446

55,451

32,553

36,231

Total Assets

244,665

240,584

188,784

186,026

Equity and Liabilities

Equity

Stated capital

18,049

18,049

18,049

18,049

Insurance reserve

300

300

300

300

Retained earnings

75,195

74,024

52,036

51,197

Equity attributable to equity share - holders

of the company

93,544

92,373

70,385

69,546

Non controlling Interest

116

115

-

-

Total Equity

93,660

92,488

70,385

69,546

Non Current Liabilities

Borrowings

35,396

30,332

35,396

30,332

Vendor financing

14,855

13,057

14,855

13,057

Lease liability

4,381

4,835

403

428

Contract liabilities

1,655

1,483

1,655

1,483

Deferred income

1,410

1,469

1,410

1,469

Deferred tax liabilities

9,286

9,066

8,093

8,002

Employee benefits

5,610

5,733

4,706

4,846

Trade and other payables

8,873

8,696

7,973

7,804

Total Non Current Liabilities

81,466

74,671

74,491

67,421

Current Liabilities

Borrowings

15,506

16,963

12,540

13,310

Vendor financing

2,422

4,269

1,761

1,745

Lease liability

2,736

2,661

443

227

Contract liabilities

1,000

972

743

716

Deferred income

3,799

3,852

412

221

Current tax liabilities

1,113

1,124

519

441

Deferred tax liabilities

12

12

-

-

Trade and other payables

42,951

43,572

27,490

32,399

Total Current Liabilities

69,539

73,425

43,908

49,059

Total Liabilities

151,005

148,096

118,399

116,480

Total Equity and Liabilities

244,665

240,584

188,784

186,026

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 12 May 2023.

Signed for and behalf of the Board.

Signed

Signed

Rohan Fernando

Mohan Weerakoon

Chairman

Director

-3-

Sri Lanka Telecom PLC

Company Registration No. PQ 7

Interim Condensed Consolidated Statement of Changes In Equity

For the three months ended 31 March 2023

(All amounts in LKR Millions )

Group

Attributable to owners of the Company

Non

Stated

Insurance

Retained

Total

controlling

Total

capital

reserve

earnings

interest

equity

Balance as at 1 January 2022

18,049

1,105

74,714

93,868

108

93,976

Adjustment for Surcharge Tax levied under the

Surcharge Tax Act No.14 of 2022

(2,289)

(2,289)

-

(2,289)

Adjusted balances as at 01 January 2022

18,049

1,105

72,425

91,579

108

91,687

Non Controlling interest

-

-

-

-

7

7

Total comprehensive income for the year

Net profit for the year

-

-

4,765

4,765

-

4,765

Other comprehensive income / (expense)

Defined benefit plan actuarial loss,net of tax

-

-

(325)

(325)

-

(325)

Total other comprehensive income for the year

-

-

(325)

(325)

-

(325)

Total comprehensive income for the year

-

-

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 from insurance reserve

-

(805)

805

-

-

-

Balance as at 31 December 2022

18,049

300

74,024

92,373

115

92,488

Balance as at 1 January 2023

18,049

300

74,024

92,373

115

92,488

Non controlling interest

-

-

-

-

1

1

Total comprehensive income for period

Net profit for the period

-

-

957

957

-

957

Other comprehensive income

Defined benefit plan actuarial gain,net of tax

-

-

214

214

-

214

Total other comprehensive income for period

-

-

214

214

-

214

Total comprehensive income for the period

-

-

1,171

1,171

-

1,171

Balance as at 31 March 2023

18,049

300

75,195

93,544

116

93,660

-4-

Sri Lanka Telecom PLC

Company Registration No. PQ 7

Interim Condensed Consolidated Statement of Changes In Equity

For the three months ended 31 March 2023

(All amounts in LKR Millions )

Company

Attributable to owners of the Company

Stated

Insurance

Retained

Total

capital

reserve

earnings

Balance as at 1 January 2022

18,049

1,105

46,518

65,672

Adjustment for Surcharge Tax levied under the Surcharge Tax Act

No.14 of 2022

-

-

(742)

(742)

Adjusted balances as at 01 January 2022

18,049

1,105

45,776

64,930

Total comprehensive income for the year

Net profit for the year

-

-

8,463

8,463

Other comprehensive income / (expense)

Defined benefit plan actuarial loss,net of tax

-

-

(201)

(201)

Total other comprehensive income for the year

-

-

(201)

(201)

Total comprehensive income for the year

-

-

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 from insurance reserve

-

(805)

805

-

Balance as at 31 December 2022

18,049

300

51,197

69,546

Balance as at 1 January 2023

18,049

300

51,197

69,546

Total comprehensive income for period

Net profit for the period

-

-

626

626

Other comprehensive income / (expense)

Defined benefit plan actuarial loss,net of tax

-

-

213

213

Total other comprehensive income for period

-

-

213

213

Total comprehensive income for the period

-

-

839

839

Balance as at 31 March 2023

18,049

300

52,036

70,385

-5-

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Sri Lanka Telecom plc published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 08:07:08 UTC.