BIMPUTH FINANCE PLC
INTERIM FINANCIAL STATEMENTS
FOR THE QUARTER ENDED 31ST DECEMBER 2021
If undelivered please return to:
BIMPUTH FINANCE PLC No-362,Colombo Road, Pepiliyana , Boralesgamuwa
STATEMENT OF COMPREHENSIVE INCOME | ||||||
QUARTER ENDED | NINE MONTHS ENDED | |||||
FOR THE YEAR ENDED 31ST MARCH 2021 | 31ST DECEMBER | 31ST DECEMBER | ||||
Note | 2021 | 2020 | 2021 | 2020 | ||
Rs. | Rs. | Rs. | Rs. | |||
Interest income | 1 | 55,060,358 | 186,341,150 | 184,350,182 | 679,467,404 | |
Interest expense | 2 | (114,895,105) | (161,665,946) | (328,423,431) | (520,906,623) | |
Net interest income | (59,834,747) | 24,675,203 | (144,073,248) | 158,560,782 | ||
- | - | - | ||||
Fee and commission income | 3 | 1,525,646 | 2,585,454 | 3,516,081 | 13,279,259 | |
- | - | - | ||||
Other income | 4 | 13,351,544 | 26,270,397 | 34,448,336 | 104,834,234 | |
Change in fair value of investment properties | - | - | - | - | ||
(44,957,557) | 53,531,055 | (106,108,831) | 276,674,275 | |||
- | - | - | ||||
Impairment loss on financial assets | (78,661,476) | 17,123,854 | (201,926,471) | (35,068,187) | ||
Net loss from financial instruments at fair value | ||||||
through profit or Loss | 162,756,978 | 2,225,859 | 220,256,249 | 24,058,531 | ||
- | ||||||
Personnel costs | 5 | (36,455,569) | (38,953,720) | (102,536,407) | (125,945,505) | |
Administration expenses | (71,050,950) | (94,162,733) | (208,980,220) | (244,808,552) | ||
Loss on derecognition of financial assets | - | - | - | - | ||
Finance expenses | (12,001,764) | (1,747,697) | (20,478,869) | (3,547,645) | ||
Profit from operations | (80,370,338) | (61,983,382) | (419,774,549) | (108,637,082) | ||
- | - | |||||
VAT on financial services | (2,377,285) | (4,983,139) | (2,377,285) | (4,983,139) | ||
- | - | - | ||||
Profit before income tax | (82,747,623) | (66,966,521) | (422,151,834) | (113,620,221) | ||
- | ||||||
Income tax expense | - | - | - | - | ||
- | ||||||
Profit for the period | (82,747,623) | (66,966,521) | (422,151,834) | (113,620,221) | ||
Other comprehensive income, net of income tax | - | |||||
Actuarial losses on defined benefit plans | - | - | - | - | ||
Deferred tax on actuarial loss on retirement benefit | - | - | - | - | ||
Changes in revaluation surplus | - | - | - | |||
Deferred tax on land revaluation | - | |||||
Total comprehensive income for the period | (82,747,623) | (66,966,521) | (422,151,834) | (113,620,221) | ||
- | - | - | ||||
Profit attributable to: | - | - | - | |||
Equity holders of the company | (82,747,623) | (66,966,521) | (422,151,834) | (113,620,221) | ||
Earnings per share-basic/diluted | (0.77) | (0.62) | (3.92) | (1.05) |
Note : All values are in rupees
The above figures are subject to audit
Figures in brackets indicates deductions
STATEMENT OF FINANCIAL POSITION | |||
31ST DECEMBER 2021 | 31ST DECEMBER 2020 | ||
Assets | Rs. | Rs. | |
Cash in hand and at bank | 82,998,027 | 162,957,295 | |
Placements with bank and other financial institutions | 278,882,320 | 360,868,535 | |
Financial investments - fair value through profit or loss | 12,706,392 | 144,020,001 | |
Financial investments - Loans and receivables | - | - | |
Financial investments -held to maturity | - | - | |
Debt instruments at amortised Cost | 95,164,199 | 245,285,109 | |
Financial investments - available for sale | 193,900 | 193,900 | |
Loans and advances | 2,321,433,808 | 3,878,295,212 | |
Tax receivable | 132,849,709 | 133,407,515 | |
Other receivables | 263,745,428 | 265,010,573 | |
Inventories | - | - | |
Investment properties | 1,795,792,600 | 1,146,881,174 | |
Property and equipment | 246,537,883 | 253,176,656 | |
Right of use assets | 89,422,450 | - | |
Intangible assets | 13,759,934 | 19,227,807 | |
Deferred tax assets | - | 11,287,921 | |
Total assets | 5,333,486,650 | 6,620,611,697 | |
Liabilities | |||
Borrowings | 3,845,085,586 | 4,410,693,691 | |
Due to customers | 1,028,679,018 | 1,316,265,269 | |
Other payables | 75,554,358 | 85,732,578 | |
Lease Liability | 89,651,684 | - | |
Retirement benefit obligations | 25,360,960 | 26,466,361 | |
Deferred tax liability | - | - | |
Total liabilities | 5,064,331,606 | 5,839,157,899 | |
Equity | |||
Stated capital | 616,100,061 | 616,100,061 | |
Statutory reserve | 71,842,325 | 71,842,325 | |
Revaluation reserve | 23,220,000 | 23,220,000 | |
Retained earnings Audited | (442,007,342) | 70,291,412 | |
269,155,044 | 781,453,798 | ||
Total liabilities and equity | 5,333,486,650 | 6,620,611,697 | |
Net Assets per share | |||
2.50 | 7.25 |
Note: All values are in rupees
The above figures are subject to audit
Figures in brackets indicate deductions
I certify that the financial statements comply with the requirements of the Companies Act No.7 of 2007.
(Sgd.)
…………………………………..
Chief Financial Officer (Acting)
P.D.C.R.Wijayaratne
The Board of Directors is responsible for the preparation and presentation of these financial statements.
(Sgd.) | (Sgd.) |
……………………………… | …................................ |
Director | Director |
P.M.K.Gamage | U.Hettiarachchi |
STATEMENT OF CHANGES IN EQUITY
As at 31st December 2021
Capital | |
Rs | |
Balance as at 1st April 2021 | 616,100,061 |
Profit for the year | - |
Other comprehensive income, net of tax | - |
Transfers during the year | - |
Statutory | Revaluation | Retained | Total |
reserve | reserve | earnings | |
Rs | Rs | Rs | |
71,842,325 | 23,220,000 | (19,849,326) | 691,313,060 |
- | - | (422,151,834) | (422,151,834) |
- | - | - | - |
- | - | - | - |
Balance as at 31st December 2021 | 616,100,061 | 71,842,325 | 23,220,000 | (442,001,160) | 269,161,226 |
STATEMENT OF CASH FLOW | Un audited | ||
`2021/2022 | `2020/2021 | ||
Cash flow from operating activities | Rs. | Rs. | |
Loss before Tax | (422,151,834) | (55,497,933) | |
Interest expenses | 328,423,431 | 668,765,775 | |
Depreciation | 106,811,835 | 50,545,566 | |
Amortization of intangible assets | 4,256,999 | 5,687,425 | |
Impairment loss on financial assets | 201,926,471 | 38,254,648 | |
Provision for Gratuity | 6,000,000 | (6,686,325) | |
(Profit)/loss on deposal of Assets | (221,397) | (4,511,743) | |
647,197,338 | 752,055,345 | ||
Operating profit before working capital changes | 225,045,504 | 696,557,413 | |
(Increase)/Decrease in placements with bank and other financial institutions | (154,275,935) | 271,736,521 | |
(Increase)/Decrease in Fair value through profit or loss | 89,515,920 | 43,270,869 | |
(Increase)/Decrease in Debt instruments at amortised cost | (37,524,377) | 192,166,395 | |
(Increase)/Decrease in Loans and advances and Lease receivables | 574,665,616 | 2,033,582,948 | |
(Increase)/Decrease in Other receivables and inventory | (107,319,036) | 62,491,277 | |
Increase/(Decrease) in Due to customers | (187,757,789) | (354,786,678) | |
Increase/(Decrease) in Other payables | 3,945,013 | 2,588,329 | |
181,249,413 | 2,251,049,660 | ||
Cash generated from operating activities | 406,294,917 | 2,947,607,073 | |
Interest expense paid | (224,603,480) | (820,691,438) | |
Gratuity paid | - | - | |
Income Tax paid | (2,377,285) | - | |
Net cash flow from operating activities | 179,314,153 | 2,126,915,635 | |
Cash flows from investing activities | |||
Purchase of property and equipment | (837,398) | (37,704,447) | |
Purchase of intangible assets | (227,500) | (573,000) | |
Proceeds from Disposals of property plant and equipment | - | ||
Purchase/addition of Investment property | - | (648,911,426) | |
Lease Advance paid | - | ||
Net cash inflow/(outflow) from investing activities | (1,064,898) | (687,188,873) | |
Net cash inflow/(outflow) before financing activities | 178,249,255 | 1,439,726,762 | |
Cash flows from financing activities | |||
Proceeds from Loans | - | (2,107,643) | |
Repayments of Loans | (277,938,841) | (1,334,656,148) | |
Repayment of principal portion of lease liabilities | - | ||
Net cash inflow/ (outflow) from financing activities | (277,938,841) | (1,336,763,791) | |
Net increase/ (decrease) in cash & cash equivalent | (99,689,586) | 102,962,971 | |
Cash and cash equivalent at the beginning of the year | (216,461,234) | (216,461,234) | |
Cash and cash equivalent at the end of the year | (316,150,820) | (113,498,263) | |
Analysis of cash and cash equivalents | |||
Cash in hand and at bank | 82,998,027 | 275,529,072 | |
Bank overdrafts | (399,148,848) | (389,027,335) | |
Cash and cash equivalent at the end of the year | (316,150,820) | (113,498,263) | |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Bimputh Finance plc published this content on 08 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 February 2022 09:51:09 UTC.