Dolphin Hotels : Interim Financial Statements as at 31st December 2022

Dolphin Hotels PLC

09 Months ended 31 December 2022

Contents	Page No.
Financial Statements
Statement of Financial Position	2
Statement of Profit or Loss	3
Statement of Changes in Equity	4
Statement of Cash Flows	5
Notes to the Financial Statements	6-7
Investor Information	8-9

Dolphin Hotels PLC

STATEMENT OF FINANCIAL POSITION

As at	31.12.2022	31.12.2021	31.03.2022
Rs.'000
Unaudited	Unaudited		Audited
ASSETS
Non-Current Assets
Property, Plant & Equipment	2,942,232	1,935,041	2,963,366
Intangible Assets	2,633	3,429	3,229
Other Financial Assets	1,872	1,737	1,872
	2,946,737	1,940,207	2,968,467
Current Assets
Inventories	35,672	16,811	14,393
Trade and Other Receivables	273,273	119,861	212,069
Other Financial Assets	510,735	1,002,014	1,319,806
Cash and Cash Equivalents	1,466,344	145,651	105,433
	2,286,024	1,284,337	1,651,701
Total Assets	5,232,761	3,224,544	4,620,168
EQUITY AND LIABILITIES
Equity
Stated Capital	948,644	316,215	316,215
Other Components of Equity	1,368,500	635,263	1,368,500
Retained Earnings	1,068,840	1,076,041		1,128,349
Total Equity	3,385,984	2,027,519	2,813,064
Non-Current Liabilities
Interest Bearing Loans & Borrowings	1,023,873	558,664	916,184
Deferred Tax Liabilities	300,801	192,207	300,801
Employee Benefit Liability	28,532	31,059	30,189
	1,353,206	781,930	1,247,174
Current Liabilities
Trade and Other Payables	467,722	187,347	430,492
Income Tax Liabilities	4,664	7,597	7,802
Interest Bearing Loans and Borrowings	16,667	136,032	25,000
Bank Overdraft	4,518	84,119	96,636
	493,571	415,095	559,930
Total Equity and Liabilities	5,232,761	3,224,544	4,620,168
Net Assets per share (Rs.)	53.54	64.12		88.96

These Financial Statements are in compliance with the requirements of the Companies Act No.07 of 2007.

Sgd.

Mrs. S.S Kotakadeniya

Chief Financial Officer - LOLC Group

The Board of Directors is responsible for the preperation and presentation of these Financial Statements. Approved and signed on behalf of the Board,

Sgd.		Sgd.
Director		Director

Colombo

14 February 2023

Dolphin Hotels PLC

STATEMENT OF COMPREHENSIVE INCOME

		3 Months		09 Months	09 Months
	3 Months Ended	Ended	Variance	Ended	Ended
	31.12.2022	31.12.2021	%	31.12.2022	31.12.2021	Variance %
Rs.'000	Unaudited	Unaudited		Unaudited	Unaudited
Revenue	140,337	1,975	>100	373,525	196,484	90
Cost of Sales	(71,465)	(1,416)	->100	(163,208)	(51,567)	->100
Gross Profit	68,872	559	>100	210,317	144,917	45
Other Operating Income and Gains	22,159	2	>100	30,598	1,798	>100
Personnel Costs	(45,703)	(33,439)	(37)	(129,889)	(107,224)	(21)
Depreciation and Amortization	(26,958)	(20,568)	(31)	(81,112)	(63,212)	(28)
Other Operating Expenses	(40,715)	(17,557)	->100	(130,407)	(74,253)	(76)
Operating Loss	(22,345)	(71,003)	(69)	(100,492)	(97,974)	(3)
Net Finance Income	41,892	7,781	>100	40,984	21,539	90
Profit / (Loss) before tax	19,547	(63,222)	>100	(59,509)	(76,435)	22
Income Tax Expense	-	-	-	-	-	-
Profit / (Loss) for the Period	19,547	(63,222)	>100	(59,509)	(76,435)	22
Other Comprehensive Income
Other Comprehensive Income / (Expense) for the Period, Net of
Tax	-	-	-	-	-	-
Total Comprehensive Income / (Expense) for the Period, Net
of Tax	19,547	(63,222)	>100	(59,509)	(76,435)	22
Earnings / (Loss) per share (Rs.)	0.31	(0.99)		(1.32)	(1.70)

Dolphin Hotels PLC

STATEMENT OF CHANGES IN EQUITY

	Stated	Other Components of Equity	Retained	Total
	Capital	Revaluation	Fair Value	Earnings
Rs.'000		Reserve	Reserve
Balance as at April 01, 2021	316,215	637,526	(2,263)	1,152,476	2,103,954
Net Loss for the period	-	-		(76,435)	(76,435)
Other Comprehensive Income
Total Comprehensive Income	-	-	-	(76,435)	(76,435)
Balance as at December 31, 2021	316,215	637,526	(2,263)	1,076,041	2,027,519
Balance as at April 01, 2022	316,215	1,370,627	(2,128)	1,128,349	2,813,064
Net Loss for the period	-	-	-	(59,509)	(59,509)
Other Comprehensive Income	-	-	-	-	-
Total Comprehensive Income	-	-	-	(59,509)	(59,509)
Issue of Shares	632,430	-	-	-	632,430
Balance as at December 31, 2022	948,644	1,370,627	(2,128)	1,068,840	3,385,984