EChannelling : Interim Financial Statements for the period ended 30th September 2022

Interim Financial Statements

For the period ended

30th September 2022

eChannelling PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPRIHENSIVE INCOME

For the period ended 30.09.2022

	Quarter Ended 30th		Nine Month Ended 30th
	September		September
	Un-audited	Un-audited		Un-audited	Un-audited
	2022	2021		2022	2021
	LKR	LKR		LKR	LKR
Revenue	48,012,018	46,830,332		150,992,766	134,318,019
Cost of Sales/Direct Cost	(10,887,345)	(12,102,450)		(37,144,056)	(30,362,078)
Gross Profit	37,124,673	34,727,882		113,848,710	103,955,941
Net Other Operating Income	52,459	101,339		162,944	249,171
Administrative Expenses	(24,375,663)	(16,388,016)		(68,201,468)	(55,214,326)
Marketing & Distribution Expenses	(1,560,061)	(1,166,186)		(5,232,649)	(3,276,651)
Profit From Operations	11,241,408	17,275,019		40,577,537	45,714,136
Finance Income	7,934,502	3,280,055		19,280,266	9,508,392
Finance Expenses	(155,788)	(222,272)		(520,992)	(710,075)
Net Finance (Expenses) / Income	7,778,714	3,057,784		18,759,274	8,798,318
Profit Before Taxation	19,020,122	20,332,802		59,336,811	54,512,454
Income Tax Expenses	(3,318,979)	(3,973,421)		(13,039,448)	(11,746,171)
Profit for the Period	15,701,143	16,359,381		46,297,363	42,766,283
Other Comprehensive Income
Equity Investment at FVOCI-net change in Fair Value	738,039	24,415		557,974	(155,650)
Re-measurement of defined benefit liability	(9,724)	(216,379)		73,958	(132,697)
Related tax	2,334	51,931		(17,750)	31,847
Other Comprehensive Income for the Period, net of tax	730,648	(140,034)		614,182	(256,500)
Total Comprehensive Income for the Period	16,431,792	16,219,347		46,911,545	42,509,783
Earnings Per Share	0.13	0.13		0.38	0.35
Dividends Per Share	-	-		-	-

The notes to the Financial Statements form an integral part of these Financial Statements.

Figures in brackets indicate deductions.

eChannelling PLC

STATEMENT OF FINANCIAL POSITION

As at 30th September 2022

	30.09.2022	31.12.2021
	LKR	LKR
	Un-audited	Audited
ASSETS
Non Current Assets
Property, plant & equipment	4,007,453	2,501,180
Intangible assets	4,999,988	5,136,947
Leasehold right-of-use asset	3,593,808	3,220,256
Deferred tax assets	7,108,110	6,674,600
Equity Investments at FVOCI	2,663,992	2,106,019
Total Non Current Assets	22,373,351	19,639,002
Current Assets
Inventories	292,740	292,025
Trade & other receivables	93,339,072	79,950,561
Amount due from related parties	114,923,789	43,197,814
Short term investments	262,360,210	244,650,912
Cash & cash equivalents	4,485,486	76,327,210
Total Current Assets	475,401,297	444,418,522
Total Assets	497,774,648	464,057,524
EQUITY AND LIABILITIES
Equity
Stated capital	93,758,316	93,758,316
Retained earnings	286,188,640	250,658,531
Fair value through OCI reserve	1,095,183	537,209
Total Equity	381,042,139	344,954,056
Non Current Liabilities
Employee benefits	9,603,658	8,599,470
Leashold right to use liability	2,084,504	4,573,796
Total Non Current Liabilities	11,688,162	13,173,266
Current Liabilities
Trade & other payables	85,748,896	91,799,047
Leashold right to use liability	8,734,837	5,724,554
Amount due to related parties	199,360	286,987
Income tax liability	10,361,254	8,119,615
Total Current Liabilities	105,044,347	105,930,203
Total Liabilities	116,732,509	119,103,469
Total Equity & Liabilities	497,774,648	464,057,524
Net Asset Per Share	3.12	2.82

I certify that these financial statements have been prepared in compliance with the requirements of the Companies Act No 7 of 2007.

A.R.R.D. Alahakoon

Senior Finance Manager

The Board of Directors is responsible for the preparation and presentation of these financial statements.

Signed for and on behalf of the board:

Lalith Senevirathna	K.G.D. Sudharshana
Director		Director
Date:	08.11.2022	`

Figures in the brackets indicate deductions.

The above figures are provisional and subject to audit.

eChannelling PLC

STATEMENT OF CHANGES IN EQUITY

For the Period Ended 30th September 2022

Balance as at 31st December 2020

Total Comprehensive income for the year

Profit for the period (Nine Months)

Other comprehensive income

Actuarial gain arising from defined benefit obligation, net of tax Fair value gain of investments valued at FVTOCI

Balance as at 30th Sep 2021

Total Comprehensive income for the year

Profit for the period (Three Months)

Other comprehensive income

Actuarial gain arising from defined benefit obligation, net of tax Fair value gain of investments valued at FVTOCI

Balance as at 31st December 2021

Total Comprehensive income for the year

Profit for the period (Nine Months)

Surcharge Tax

Other comprehensive income

Actuarial gain arising from defined benefit obligation, net of tax Fair value gain of investments valued at FVTOCI

Balance as at 30th Sep 2022

Figures in the brackets indicate deductions.

The above figures are provisional and subject to audit.

Stated Capital	Available for-	Retained	Total
	sale Reserve	Earnings
LKR	LKR	LKR	LKR
93,758,316	819,014	196,681,931	291,259,261
-	-	42,766,283	42,766,283
		(100,850)	(100,850)
-	(155,650)		(155,650)
93,758,316	663,364	239,347,364	333,769,044
-	-	10,606,029	10,606,029
		705,137	705,137
-	(126,155)		(126,155)
93,758,316	537,209	250,658,530	344,954,055
		46,297,363	46,297,363
		(10,823,460)
		56,208	56,208
	557,974		557,974
93,758,316	1,095,183	286,188,640	391,865,600

eChannelling PLC

CASH FLOW STATEMENT

For the period ended	30.09.2022	30.09.2021
	Un-audited	Un-audited
	LKR	LKR
Cash Flow From Operating Activities
Profit Before Tax	59,336,811	54,512,454
Adjustments for :
Depreciation and amortization	6,409,276	7,700,553
Provision for employee benefits	2,046,983	1,643,275
Interest income	(7,934,502)	(9,508,392)
Interest expenses	520,992	710,075
Operating Profit before Working Capital Changes	60,379,560	55,057,964
(Increase) / decrease in inventories	(715)	(100,540)
Decrease / (increase) in trade & other receivable	(13,388,511)	(30,135,262)
Decrease / (increase) in amounts due from related parties	(71,813,600)	23,140,193
Increase / (decrease) in trade & other payables	(6,050,151)	(24,443)
Cash Generated from Operations	(30,873,417)	47,937,911
Interest received	1,104,309	8,189,219
Employee benefits paid	(968,838)	-
Tax paid	(22,072,530)	(9,535,753)
Net Cash Generated from Operating Activities	(52,810,476)	46,591,378
Cash Flow From Investing Activities
Acquisition of property plant and equipment	(8,152,143)	(933,316)
Net proceeds from short term investments	(10,879,105)	(7,540,538)
Net Cash (used in) / Generated from Investing Activities	(19,031,248)	(8,473,854)
Net increase in cash & cash equivalents	(71,841,724)	38,117,523
Cash & cash equivalents at beginning of the period	76,327,210	10,685,228
Cash & Cash Equivalents at end of the Period	4,485,486	48,802,751
Analysis of Cash and Cash Equivalents
Cash at bank & in hand	4,485,486	48,802,751
Bank overdraft	-	-
	4,485,486	48,802,751

Figures in the brackets indicate deductions.

The above figures are provisional and subject to audit.