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)

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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.