Prime Lands Residencies : Interim Financial Statements as of 31/12/2021

INTERIM FINANCIAL STATEMENTS

FOR THE NINE MONTHS PERIOD ENDED 31ST DECEMBER 2021

PRIME LANDS RESIDENCIES PLC, NO 75, D.S SENANAYAKE MAWATHA, COLOMBO 08, SRI LANKA.

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PRIME LANDS RESIDENCIES PLC													Page 1
STATEMENT OF COMPREHENSIVE INCOME
INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2021
	For the three Months ended			For the Nine Months ended
	31.12.2021	31.12.2020			Variance		31.12.2021	31.12.2020			Variance
	Unaudited		Unaudited			%		Unaudited		Unaudited			%
	Rs.		Rs.			Rs.		Rs.
Revenue	2,635,457,629	2,102,081,960			25%		6,344,979,714	5,539,799,197			15%
Cost of sales	(1,849,861,377)	(1,594,332,143)			16%		(4,449,962,956)	(4,173,534,982)			7%
Gross profit	785,596,252	507,749,817			55%		1,895,016,758	1,366,264,215			39%
Other income	8,186,750	6,957,950			18%		145,282,513	19,175,818			658%
Distribution expenses	(70,453,556)	(7,662,426)			819%		(101,850,550)	(20,325,406)			401%
Administrative expenses	(119,721,755)	(90,420,399)			32%		(367,003,758)	(234,016,838)			57%
Operating profit	603,607,691	416,624,942			45%		1,571,444,963	1,131,097,789			39%
Finance income	7,788,835	26,703,476			-71%		28,007,411	71,777,271			-61%
Finance expenses	(97,739,178)	(82,318,889)			19%		(283,842,988)	(340,682,821)			-17%
Profit before taxation	513,657,348	361,009,529			42%		1,315,609,386	862,192,239			53%
Tax expenses	(63,754,078)	(75,634,857)			-16%		(157,904,008)	(196,292,381)			-20%
Profit for the period	449,903,270		285,374,672			58%		1,157,705,378		665,899,859			74%
Other comprehensive income	-	-			-		-	-			-
Total comprehensive income for the period
449,903,270		285,374,672			58%		1,157,705,378		665,899,859			74%
Earnings per share	0.50	0.38					1.28	0.89
Figures in brackets indicate deductions.

PRIME LANDS RESIDENCIES PLC					Page 3
STATEMENT OF CHANGES IN EQUITY
INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2021
	Stated		Retained		Total
	capital		earnings
	Rs.		Rs.		Rs.
Balance as at 01st April, 2020	1,500,000,000	942,717,586	2,442,717,586
Profit for the period	-	665,899,859	665,899,859
Balance as at 31st December, 2020	1,500,000,000	1,608,617,445	3,108,617,445
Balance as at 01st April, 2021	1,500,000,000	1,932,952,648	3,432,952,648
Issue of Share Capital	1,950,000,000	-	1,950,000,000
Profit for the period	-	1,157,705,378	1,157,705,378
Interim Dividend	-	(375,000,000)	(375,000,000)
Balance as at 31st December, 2021	3,450,000,000	2,715,658,027	6,165,658,027

Figures in brackets indicate deductions.

PRIME LANDS RESIDENCIES PLC

STATEMENT OF CASH FLOWS

INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2021

Page 4

Cash flows from operating activities

Profit before taxation

Adjustment for

Depreciation

Amortization

Provision on retirement benefit obligation

Interest expenses

Lease interest

Loan interest

Interest on debentures

Fair value (gain)/ loss on share investment Exchange (gain)/loss on investment in debenture

Operating cash flows before change in working capital

Changes in working capital

(Increase)/decrease in inventory properties decrease/(Increase)in contractor advances (Increase)/decrease in advances, deposits and other receivables Increase/(decrease) in trade and other payables (Decrease)/increase in amounts due to related parties (decrease)/Increase in customer advance collection

Cash generated from operations

Income tax paid

Interest paid

Gratuity paid

Net cash generated from/(used in) operating activities Cash flows from investing activities

Acquisition of intangible assets

Acquisition of investment property

Acquisition of property, plant and equipment

Net cash used in investing activities

Cash flows from financing activities

Lease installments paid

Dividends paid

IPO Proceed

Proceeds from lease creditor

Proceeds from interest bearing borrowings

Repayment of interest bearing borrowings

Loan interest paid

Net cash used in financing activities

Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the period

31.12.2021 Unaudited

Rs.

1,315,609,386

28,246,098

43,130

3,076,092

67,367,830

6,647,799

192,744,147

(13,097,507)

(61,500)

16,500,386

301,466,475

1,617,075,861

(1,521,127,463)

(360,270,231)

26,560,758

62,134,677

(4,995,981)

644,515,902

463,893,523

(401,555,468)

(67,367,830)

(685,301)

(5,715,076)

-

-

(2,648,618)

(2,648,618)

(15,129,712)

(375,000,000)

1,950,000,000

-

585,211,002

(1,699,741,903)

(192,744,147)

252,595,240

244,231,546

(773,258,336)

(529,026,790)

31.12.2020 Unaudited

Rs.

862,192,239

26,547,700

24,129

1,025,364

90,318,876

7,290,487

241,485,587

(12,932,023)

-

-

353,760,121

1,215,952,360

(1,935,664,930)

2,587,606,868

(11,287,139)

473,720,174

1,324,348,000

(1,033,201,902)

2,621,473,431

(83,146,722)

(77,981,560)

(401,400)

2,582,916,743

(256,664)

(123,103)

(10,846,358)

(11,226,125)

(15,079,998)

-

-

4,500,000

560,000,000

(956,986,000)

(221,985,926)

(629,551,924)

1,942,138,693

(2,763,773,370)

(821,634,677)