ASIA CAPITAL PLC ASIA CAPITAL PLC
Interim Report
3rd Quarter Ended 31st December 2021
ASIA CAPITAL PLC
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME- GROUP
Nine months ended 31st December | Nine months ended 31st December | Qtr ended 31st December | ||||
2021 | 2020 | Change % | 2021 | 2020 | Change % | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |||
Revenue | 166,594 | 25,438 | 555% | 107,609 | 2,094 | 5039% |
Cost of Sales | (95,199) | (13,258) | 618% | (72,348) | (1,358) | 5228% |
Gross Profit | 71,395 | 12,180 | 486% | 35,261 | 736 | 4691% |
Other Operating Income | 8,150 | 33,512 | -76% | 4,193 | - | - |
Selling and Distribution Expenses | (34,579) | (10,460) | 231% | (30,219) | (1,660) | 1720% |
Administrative Expenses | (257,914) | (202,449) | 27% | (61,357) | (10,086) | 508% |
Other Operating Expenses | (49,337) | (37,056) | 33% | (13,995) | (18,861) | -26% |
Net Finance Income/(Cost) | (134,585) | (120,087) | 12% | (52,221) | (37,214) | 40% |
Share of Profit /(Loss) of Associate | (230) | (255) | -10% | (80) | - | -100% |
Profif/(Loss) Before Taxation | (397,100) | (324,615) | 22% | (118,418) | (67,085) | 77% |
Income Tax | - | - | - | - | ||
Profit/(Loss) for the Period | (397,100) | (324,615) | 22% | (118,418) | (67,085) | 77% |
Attributable to | ||||||
Equity Holders of the Parent Company | (342,194) | (270,286) | (114,062) | (70,081) | ||
Non-Controlling Interest | (54,906) | (54,329) | (4,356) | 3,716 | ||
(397,100) | (324,615) | 22% | (118,418) | (67,085) | 77% | |
Basic Earnings/(Loss) Per Share (Rs.) | (2.61) | (2.06) | (0.87) | (0.53) | ||
STATEMENT OF OTHER COMPREHENSIVE INCOME-GROUP | ||||||
Profit/(Loss) for the Period | (397,100) | (324,615) | 22% | (118,418) | (67,085) | 77% |
Other Comprehensive Income | ||||||
Acturial Gain /(loss) on Defined Benefit Obligations | - | - | - | - | ||
Revaluation Surplus on Property, Plant and Equipment | - | - | - | - | ||
Deferred Taxation on Revaluation Surplus | - | - | - | - | ||
Net Gain on Equity Instruments Designated at Fair value Through | - | - | - | - | ||
Other Comprehensive Income | - | - | - | - | ||
Other Comprehensive Income for the Period, net of tax | - | - | - | - | ||
Total Comprehensive Income for the Period | (397,100) | (324,615) | 22% | (118,418) | (67,085) | 77% |
Attributable to | ||||||
Equity Holders of the Parent Company | (342,194) | (270,286) | (114,062) | (99,899) | ||
Non-Controlling interest | (54,906) | (54,329) | (4,356) | (31,190) | ||
Total Comprehensive Income for the Period | (397,100) | (324,615) | 22% | (118,418) | (67,085) | 77% |
Note: Figures in bracket indicate deductions.
The above figures given are provisional and subject to audit.
1
ASIA CAPITAL PLC
STATEMENT OF PROFIT OR LOSS AND COMPREHENSIVE INCOME- COMPANY
Nine months ended 31st December | Nine months ended 31st December | Qtr ended 31st December | ||||
2021 | 2020 | Change % | 2021 | 2020 | Change % | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |||
Revenue | - | - | - | - | - | - |
Cost of Sales | - | - | - | - | - | - |
Gross Profit | - | - | - | - | - | - |
- | ||||||
Other Operating Income | - | 30,076 | -100% | - | - | - |
Selling and Distribution Expenses | (845) | (1,005) | -100% | (80) | (500) | -84% |
Administrative Expenses | (57,878) | (62,726) | -8% | (38,698) | (19,946) | 94% |
Other Operating Expenses | (39,421) | (26,050) | 51% | (28,701) | (18,416) | 56% |
Net Finance Income/(Costs) | (125,467) | (105,575) | 19% | (93,437) | (36,003) | 160% |
Profit/(Loss) Before Taxation | (223,611) | (165,280) | 35% | (160,916) | (74,865) | 115% |
Income Tax Expense | - | - | - | - | ||
Profit/(Loss) for the Period | (223,611) | (165,280) | 35% | (160,916) | (74,865) | 115% |
Basic Earnings/(Loss) Per Share (Rs.) | (1.70) | (1.26) | (1.23) | (0.57) | ||
STATEMENT OF OTHER COMPREHENSIVE INCOME | ||||||
Profit/(Loss) for the Period | (223,611) | (165,280) | 35% | (160,916) | (74,865) | 115% |
Other Comprehensive Income | ||||||
Acturial Gain /(loss) on Defined Benefit Obligations | - | - | - | - | ||
Revaluation Surplus on Property, Plant and Equipment | - | - | - | - | ||
Deferred Taxation on Revaluation Surplus | - | - | - | - | ||
Net Gain on Equity Instruments Designated at Fair value Through | - | - | - | - | ||
Other Comprehensive Income | ||||||
Other Comprehensive Income for the Period, net of tax | - | - | - | - | ||
Total Comprehensive Income for the Period | (223,611) | (165,280) | 35% | (160,916) | (74,865) | 115% |
Note: Figures in bracket indicate deductions.
The above figures given are provisional and subject to audit.
2
ASIA CAPITAL PLC
STATEMENTS OF FINANCIAL POSITION
GROUP | COMPANY | |||
AS AT | 31.12.2021 | 31.03.2021 | 31.12.2021 | 31.03.2021 |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
(Audited) | (Audited) | |||
ASSETS | ||||
Non-Current Assets | ||||
Property, Plant and Equipment | 3,080,528 | 3,167,970 | 25,148 | 28,737 |
Intangible Assets | 340,473 | 340,622 | 408 | 550 |
Investment Properties | 127,780 | 127,780 | 64,145 | 127,780 |
Investments in Subsidiaries | - | - | 1,213,595 | 1,213,597 |
Investments in Associates | 170,449 | 171,072 | 398,839 | 398,839 |
Equity instruments measured at fair value through OCI | 117,430 | 117,430 | 117,430 | 117,430 |
Long Term Deposits and Advances | 5,217 | 5,147 | 5,217 | 5,147 |
Total Non-Current Assets | 3,841,877 | 3,930,021 | 1,824,782 | 1,892,080 |
Current Assets | ||||
Inventories | 11,514 | 143,991 | - | - |
Other Financial Assets | 38,920 | 84,655 | 39,417 | 61,161 |
Income Tax Receivable | 394 | 1,501 | - | - |
Trade and Other Receivables | 297,529 | 168,254 | 32,716 | 35,298 |
Deferred Taxation | 15 | - | - | - |
Amounts due from Related Parties | 538,935 | 566,717 | 1,716,156 | 1,534,729 |
Cash and Cash Equivalents | 48,141 | 34,417 | 26,354 | 25,004 |
Total Current Assets | 935,448 | 999,535 | 1,814,643 | 1,656,192 |
Total Assets | 4,777,325 | 4,929,556 | 3,639,425 | 3,548,272 |
EQUITY AND LIABILITIES | ||||
Capital and Reserves | ||||
Stated Capital | 1,498,498 | 1,498,498 | 1,498,498 | 1,498,498 |
Revaluation Reserves | 1,329,594 | 1,242,858 | 5,905 | 5,905 |
Retained Earnings/ (Accumulated Losses) | (2,418,717) | (2,091,998) | (742,956) | (518,356) |
Shareholders' Fund | 409,374 | 649,358 | 761,447 | 986,047 |
Non-controlling interest | 871,814 | 952,009 | - | - |
Total Equity | 1,281,188 | 1,601,367 | 761,447 | 986,047 |
Non-Current Liabilities | ||||
Retirement Benefit Obligations | 30,481 | 31,748 | 14,759 | 15,877 |
Interest Bearing Borrowings - Due after one year | 517,364 | 465,855 | 45,950 | 31,870 |
Non - Interest Bearing Borrowings -Due after one year | 790,795 | 790,795 | 790,795 | 790,795 |
Lease liability | 34,941 | 20,008 | - | |
Total Non-Current Liabilities | 1,373,581 | 1,308,406 | 851,504 | 838,542 |
Current Liabilities | ||||
Non - Interest Bearing Borrowings - Current | 57,416 | 49,866 | 57,416 | 49,866 |
Interest Bearing Borrowings - Current | 1,430,082 | 1,243,110 | 1,445,182 | 1,220,655 |
Lease liability | 3,137 | 7,131 | - | - |
Deffered Income | 4,035 | 4,035 | 4,035 | 4,035 |
Trade and Other Payables | 118,252 | 219,825 | 59,748 | 65,108 |
Amounts due to Related Parties | - | - | 82,057 | 50,133 |
Income Tax Payable | 42,844 | 42,851 | 42,844 | 42,845 |
Bank Overdrafts | 466,790 | 452,965 | 335,192 | 291,042 |
Total Current Liabilities | 2,122,556 | 2,019,783 | 2,026,474 | 1,723,684 |
Total Liabilities | 3,496,137 | 3,328,189 | 2,877,978 | 2,562,226 |
Total Equity and Liabilities | 4,777,325 | 4,929,556 | 3,639,425 | 3,548,273 |
Net Assets Per Share (Rs.) | 3.12 | 4.94 | 5.80 | 7.51 |
Note: Figures in bracket indicate deductions. | ||||
The above figures given are provisional and subject to audit. |
I certify that the above financial statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007
Sgd
Thusitha Perera
Group Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
Approved and signed for and on behalf of the Board of Directors,
Sgd | Sgd |
K. G Sri Chandrasekera | D. Swarnasinghe |
Director | Director |
15th February Colombo. |
3
ASIA CAPITAL PLC
STATEMENT OF CHANGES IN EQUITY
GROUP | ||||||
Total | ||||||
Stated | Revaluation | Retained Earnings/ | Attributable to | Non-controlling | Total | |
Capital | Reserve | Accumulated Losses | Equity holders | Interest | Equity | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Balance as at 01st April 2020 | 1,498,498 | 1,361,370 | (1,927,527) | 932,341 | 935,493 | 1,867,834 |
Prior Period adjustments | - | (994) | (19,488) | (20,481) | (3,429) | (23,910) |
Transferred to Reservers | - | - | - | - | - | - |
Profit / (Loss) for the period | - | - | (270,286) | (270,286) | (54,329) | (324,615) |
Other Comprehensive Income for the year (Net of tax) | - | - | - | - | - | |
Adjustment on Acquisition,Disposal and Change in Holding of Subsidiary | - | - | - | - | - | - |
Balance as at 30th December 2020 | 1,498,498 | 1,360,376 | (2,217,300) | 641,574 | 877,735 | 1,519,309 |
Prior Period adjustments | - | 994 | 19,487 | 20,481 | 4,566 | 25,047 |
Transferred to Reservers | - | - | - | - | - | - |
Profit / (Loss) for the period | - | - | 108,699 | 108,699 | (83,931) | 24,768 |
Other Comprehensive Income for the year (Net of tax) | - | - | 4,747 | 4,747 | - | 4,747 |
Adjustment on Acquisition,Disposal and Change in Holding of Subsidiary | - | (118,512) | (7,631) | (126,143) | 153,639 | 27,496 |
Revaluation Surpuls on Propery, Plant and Equipment | - | - | - | - | - | - |
Balance as at 31st March 2021 | 1,498,498 | 1,242,858 | (2,091,998) | 649,358 | 952,009 | 1,601,367 |
Prior Period adjustments | - | (32,537) | (32,539) | (27,519) | (60,059) | |
Profit / (Loss) for the period | - | - | (342,194) | (342,194) | (54,906) | (397,100) |
Other Comprehensive Income for the year (Net of tax) | - | - | - | - | - | - |
Transferred To Reserves | - | - | - | - | - | - |
Adjustment on Acquisition,Disposal and Change in Holding of Subsidiary | - | 86,737 | 48,012 | 134,749 | 2,230 | 136,979 |
Balance as at 30th December 2021 | 1,498,498 | 1,329,595 | (2,418,717) | 409,374 | 871,814 | 1,281,188 |
COMPANY | ||||||
Stated | Revaluation | Retained Earnings/ | ||||
Capital | Reserve | Accumulated Losses | Total | |||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |||
Balance as at 01st April 2020 | 1,498,498 | 5,905 | (320,293) | 1,184,110 | ||
Prior Period adjustments | - | - | (986) | (986) | ||
Profit / (Loss) for the period | - | - | (165,280) | (165,280) | ||
Other Comprehensive Income for the year (Net of tax) | - | - | - | - | ||
Balance as at 30th December 2020 | 1,498,498 | 5,905 | (486,559) | 1,017,844 | ||
Prior Period adjustments | - | - | 4,558 | 4,558 | ||
Profit / (Loss) for the period | - | - | (36,355) | (36,355) | ||
Other Comprehensive Income for the year (Net of tax) | - | - | - | - | ||
Adjustment on Acquisition,Disposal and Change in Holding of Subsidiary | - | - | - | - | ||
Revaluation Surpuls on Propery, Plant and Equipment | - | - | - | - | ||
Balance as at 31st March 2021 | 1,498,498 | 5,905 | (518,356) | 986,047 | ||
Prior Period adjustments | - | - | (989) | (989) | ||
Profit / (Loss) for the period | - | - | (223,611) | (223,611) | ||
Other Comprehensive Income for the year (Net of tax) | - | - | - | - | ||
Balance as at 30th December 2021 | 1,498,498 | 5,905 | (742,956) | 761,447 |
The above figures given are provisional and subject to audit.
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Asia Capital 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 11:46:09 UTC.
